Beltone Holding acquires SODIC Securitization for EGP 7.3M

Updated 8/8/2024 9:55:00 AM
Beltone Holding acquires SODIC Securitization for EGP 7.3M

Arab Finance: Sixth of October Development and Investment Company (SODIC) has finalized an agreement to sell its entire stake in SODIC Securitization to Beltone Holding, as per a disclosure.

The deal involves ownership transfer of 5,000 shares, representing 100% of SODIC Securitization’s capital, for a total of EGP 7.3 million.

This amount includes EGP 1 million above the total value of the ownership rights at the time of transfer.

SODIC's ordinary general assembly (OGM) approved the sale and agreed to provide financial consulting services related to restructuring its subsidiaries.

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