Sunday 20, May 2018 by Jessica Combes

Egypt’s Beltone Financial seeks controlling stake in Oragroup

 

Egypt’s Beltone Financial is looking to expand its financial services on the African continent, Beltone said in a statement late on Saturday

Beltone Financial, listed on the Cairo exchange and one of the country’s largest asset managers and financial services companies, said its board had agreed to sign a non-binding offer to set out indicative terms for the transaction, reported Reuters, although neither the exact size of the stake it is looking to acquire nor the potential terms were disclosed.

Oragroup has 143 branches serving more than 400,000 clients in 12 African countries in western and central Africa, the Beltone statement said.

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