The Clap
Orascom Financial Holding (OFH) is set to decide on Monday, July 25 whether it will exit Beltone (BTFH) partially or fully following Chimera’s acquisition.
The Deets
OFH currently holds around 56% of Beltone. Orascom will look to hold between 10%-20% of Beltone if they are to exit partially. If the stake is lower, Orascom may opt to exit Beltone fully.
Background
Chimera had received FRA approval to acquire Beltone on July 19, 2022. Following the approval, Chimera had given shareholders 10 days in order to list their shares of Beltone as they look to finalize the deal by August 3, 2022.
Orascom set to decide fate in Beltone 🏦
