– B Investments Holding completed the acquisition of a 90% stake in Orascom Financial Holding (OFH), marking a significant milestone in the financial sector.

– The acquisition, finalized on April 17, 2024, after regulatory approval from the Financial Regulatory Authority (FRA) in February, reflects B Investments’ strategic vision and proactive approach.

– With a capital increase approved by shareholders in January 2024, B Investments fortified its position in the financial sector, paving the way for the successful acquisition of OFH and aiming to capitalize on emerging opportunities in the evolving financial landscape.

B Investments Holding has announced the completion of its acquisition of a significant 90% stake in Orascom Financial Holding (OFH), marking a pivotal move in the financial landscape. 

The acquisition, disclosed through a bourse filing, was finalized on April 17, 2024, following regulatory approval from the Financial Regulatory Authority (FRA) in February.

This strategic transaction follows B Investments’ proactive steps earlier in January 2024 when its shareholders greenlit a capital increase from EGP 800.12 million to EGP 1.17 billion. 

This capital infusion aimed to fortify B Investments‘ foothold in the financial sector, setting the stage for the subsequent acquisition process.

The financial performance of both entities leading up to the acquisition paints a dynamic picture. B Investments witnessed a notable decline in consolidated net profits, plummeting to EGP 693.76 million by December 31, 2023, from EGP 1.33 billion in the previous year. On the other hand, Orascom Financial Holding experienced a significant turnaround, transitioning from net losses of EGP 133.39 million in 2022 to net profits after tax totaling EGP 20.45 million in the same period.

This acquisition underscores B Investments’ strategic vision and commitment to expanding its influence within the financial sector. 

By integrating Orascom Financial Holding into its portfolio, B Investments positions itself for enhanced market presence and diversified offerings, poised to capitalize on emerging opportunities in the evolving financial landscape.

(1USD=48.07)