Egypt’s Beltone acquires 100% stake in Cash for Micro-Finance

Egypt’s Beltone Financial Holding announced on Monday that it had signed a sales and purchase agreement (SPA) to acquire 100 percent equity stake in Cash Microfinance Company.

The move followed Beltone’s completion of a due diligence to buy Cash Microfinance’s stakes.

The transaction remains subject to the Egyptian Financial Regulatory Authority (FRA), Beltone further said in a bourse filling.

Earlier in August, Beltone signed a memorandum of understanding to acquire Cash for Microfinance after obtaining FRA’s approvals to proceed with the due diligence.