The Clap:

Private equity firm B Investments (BINV) plans to earmark EGP 3 billion for acquisitions in export-heavy industries after wrapping its purchase of close to 70% of Orascom Financial Holding (OFH),  the company’s Investor Relations Manager Omar El-Labban told Asharq Business.

What:

BINV will focus on companies across the pharmaceuticals, health care, and food and beverage sectors as it looks to add hard currencies to its coffers. 

REMEMBER-  

B Investments snapped up a 68.9% stake in OFH  —- 3.31 billion shares —at a total value of EGP 1.456 billion (EGP 0.44 apiece)

Now what:

The company expects to seal at least one of its planned acquisition deals within the second half of the year, El-Labban said.

Mahmoud Hatem

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