Beltone Holding to Acquire Majority Stake in Baobab
Deal News | Feb 11, 2025 | Zawya
Beltone Holding has entered into a share purchase agreement to acquire a majority stake in the Baobab Group, pending necessary approvals and fulfillment of required procedures. This strategic move highlights Beltone's ambitions to enhance its growth in the diversified financial sector. Notably, Beltone reported a substantial increase in net profits, amounting to EGP 1.7 billion in 2024, a remarkable 387.78% uptick from the previous year. The company, known for its brokerage, asset management, investment banking, and liquidity services, aims to solidify its presence in regional markets.
Sectors
- Finance - Diversified
- Investment & Asset Management
Geography
- Egypt – Beltone Holding is an Egypt-based company and the acquisition of Baobab Group is part of its strategy in the regional markets.
Industry
- Finance - Diversified – Beltone Holding operates in the diversified financial sector, offering services such as brokerage, asset management, investment banking, and liquidity services.
- Investment & Asset Management – Beltone's activities in acquiring a majority stake in Baobab Group fall under investment management as it broadens its portfolio in financial investments.
Financials
- EGP 1.7 billion – Beltone Holding's net profits in 2024, reflecting a significant growth of 387.78% compared to 2023.
- EGP 369.22 million – Beltone Holding's net profits in 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Beltone Holding | Bidding Company | Company | An Egyptian diversified financial services firm engaging in brokerage, asset management, investment banking, and liquidity services. |
| Baobab Group | Target Company | Company | The company in which Beltone Holding is acquiring a majority stake. |