Cairo – Mubasher: Beltone Financial Holding board of directors decided Sunday to postpone taking a decision on increasing capital. It also gave the green light for acquiring 100% of Arab Finance in a deal worth EGP 23 million.
The company decided to delay the capital hike move to finance future expansions till the financial statements for the fiscal year 2015 are endorsed.
Meanwhile, Arab Finance takeover will be discussed in the upcoming shareholders’ meeting as it is a compensation contract.
Beltone board gave a nod to acquiring 100% of CI Capital Holding for EGP 924 million. It also approved the takeover of a 70% stake in Reefy Company.
