Beltone Holding Acquires SODIC Securitization for EGP 8.587 Million
Deal News | Feb 19, 2025 | Zawya
Beltone Holding, an influential financial group, has acquired SODIC Securitization Company for EGP 8.587 million. This transaction, part of a broader strategic initiative, reflects Beltone's ongoing efforts to expand its portfolio in Egypt. The selling company, SODIC, finalized the deal to divest its entire stake on August 7th, 2024. This acquisition follows a significant financial performance by Beltone in 2024, where it reported a 387.78% increase in net profits to EGP 1.7 billion from EGP 369.22 million in 2023. The acquisition is anticipated to strengthen Beltone's market position and enhance its service offerings in the Egyptian financial sector.
Sectors
- Financial Services
- Real Estate
Geography
- Egypt – Both Beltone Holding and SODIC are based in Egypt; thus, the transaction is significant to the Egyptian market.
Industry
- Financial Services – Beltone Holding operates in the financial services sector, involving investment and portfolio management.
- Real Estate – SODIC operates in the real estate sector and is divesting its interests in a financial service arm.
Financials
- EGP 8.587 million – Transaction value for the acquisition of SODIC Securitization by Beltone Holding.
- EGP 1.7 billion – Beltone Holding's net profit for 2024, reflecting a significant increase from the previous year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Beltone Holding | Bidding Company | Company | Beltone Holding is a prominent financial services company in Egypt, known for investment banking and asset management. |
| SODIC | Selling Company | Company | SODIC is a major real estate developer in Egypt. |
| SODIC Securitization | Target Company | Company | A subsidiary of SODIC involved in financial securitization. |