NBE offers to buy minority stake in Raya’s Aman Holding

The National Bank of Egypt (NBE) has submitted an offer to Raya Holding to purchase a 20-25 percent stake in its subsidiary Aman Holding.

Raya’s board will meet to assess the offer and decide the process for due diligence, they said, without providing additional details.

 Raya received 24 offers for a minority stake in its Aman Holding from domestic and international investors in January.

Raya has set up Aman Holding  as a parent company to its three non-banking financial service arms — Aman for Financial Services, Aman for E-Payments, and Aman for Microfinance.

Aman was among the first two companies – along with Sarwa Capital’s Contact — to be awarded a consumer finance license by the Financial Regulatory Authority in April.