B Investments Holding finished acquiring a 90% share in Orascom Financial Holding. The acquisition represents B Investments’ proactive strategy and strategic vision, and it was completed on April 17, 2024, following regulatory approval from the Financial Regulatory Authority in February.
Following preemptive measures taken by B Investments in January 2024, when its shareholders approved a capital increase from EGP 800.12 million to EGP 1.17 billion, comes this strategic deal.
The purpose of this cash infusion was to strengthen B Investments’ position in the financial industry and prepare the way for the ensuing purchase procedure.
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A dynamic picture is painted by the financial performance of both organisations prior to the acquisition. Consolidated net earnings for B Investments saw a sharp decrease, falling from EGP 1.33 billion to EGP 693.76 million by December 31, 2023.
Conversely, Orascom Financial Holding underwent a notable reversal, going from EGP 133.39 million in net losses in 2022 to EGP 20.45 million in net profits after taxes during the same time.
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B Investments positions itself for improved market presence and diverse products by incorporating Orascom Financial Holding into its portfolio. This puts it in a position to take advantage of new opportunities in the changing financial landscape.
About B Investments
B Investments is a growth capital and private equity business situated in Egypt that actively adds value to its portfolio companies by drawing on a variety of experience.
About Orascom Financial Holding
Orascom Financial Holding is a technology-driven financial services investment company led by an experienced team with financial and technology experience.
