Beltone signs MoU to acquire Egyptian microfinance company

Beltone Financial signed a memorandum of understanding (MoU) on Sunday to acquire Cash for Microfinance which is licensed by the Financial Regulatory Authority (FRA).

According to the MoU, Beltone will undergo a due diligence process after obtaining the regulatory approvals to prepare for completing the potential acquisition.

The acquisition is relying on the due diligence and the regulatory approvals to start the assessment or acquisition.

Therefore all market participants dealing on the Company’s shares must expect that the potential acquisition process may or may not occur.

The company will announce the conclusion of the due diligence process once ready.

Beltone’s issued and paid-up capital is currently 10,926,957,496 Egyptian pounds distributed over 5,463,478,748 shares.