Arab Finance: B Investments Holding’s (BINV) board of directors approved acquiring a minimum of 51% and up to a 90% stake in Orascom Financial Holding (OFH) via share swap, B Investments said in a filing sent to the Egyptian Exchange (EGX) on June 18th.
The transaction will be conducted via a share swap ratio of 1 share of B Investments’ shares, based on its total share capital of 160.024 million shares for 56.76 shares of OFH, based on 4.721 billion shares of the company's capital, excluding treasury shares.
Meanwhile, B Investments’ board of directors authorized the chairman to appoint an independent financial advisor to determine the fair value (FV) of the share price of B Investments Holding and OFH.
Established in 2006, B Investments is an Egypt-based private equity firm and growth capital investor that pulls a wealth of expertise to actively create value in its portfolio of companies.