The Clap
Just a week since receiving a purchase offer from WM Consultancy, Beltone Financial (BTFH) has received an offer from Emirati “Chimera Investments”.
More on Chimera
Chimera is an Abu Dhabi-based private investment firm that invests in both listed & unlisted equities in the local & regional markets. The firm’s investments include real estate, construction, fast-moving consumer goods, food and beverage, hospitality, aviation, & healthcare.
The deets
In a non-binding offer, Chimera is seeking a majority stake between 51%-90%, & has offered EGP 1.485/share, EGP 0.135 higher than WM Consultancy’s offer.
Chimera will present a final offer once regulatory procedures from both sides are finalized.
Why this matters
Beltone’s stock jumped 12% on the back of news that WM Consultancy made an offer.
