Egypt’s OTMT approves Dutch BlueStone’s assets in Sao Paulo

Egypt-based Orascom Telecom Media and Technology Holding’s board of directors approved Monday to buy the entire stake of Dutch BlueStone.

BlueStone is an international supplier of exclusive wireless accessories for digital devices, custom-made promotional gifts and merchandising.
OTMT is set to purchase the entire stake of BlueStone (Holland) Investment BV Co. in Vector Investment Holdings UA Co.as well as all the companies that owns 11053,34 square meter in the Commercial Building in Sao Paulo, Brazil, which is amounting to BRL263,263,500, funded in US Dollar.

Hence, OTMT’s board has agreed to sign a loan contract worth US$35 million with Banque Libano-Française to partially fund the purchase of BlueStone.

Otmt mandated Naguib Sawiras, Osama Nasif and Yousef Fayez to sign all documents and contracts related to OTMT.