Orascom Financial Holding acquires 29% stake in Sarwa Capital, 74.5% of Beltone

Orascom Investment Holding (OIH) sold its entire stake of 29.25 percent in Sarwa Capital Holding for Financial Investments while it parts with its entire stake of 74.55 percent in Beltone Financial Holding.

The deal involved the trading of 350.08 million shares at a total value of  1.6 billion Egyptian pounds, averaging  4.58  pounds per share, Sarwa Capital said in a bourse disclosure.

This is part of the horizonal demerger conducted by OIH to spin out several financial services companies into Orascom Financial Holding (OFH).

While the Beltone Financial Holding deal deal involved the trading of 332.23 million shares at a total value of 900.34 million pounds, averaging 2.71  pounds per share, Beltone said in a bourse disclosure on Thursday.

Beltone Securities Brokerage acted as a broker in the transaction.