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Monday, 6 June 2016

Beltone Financial consider acquiring a leasing company if CI Capital agreement fails

Beltone Financial says it has set its sights on a leasing company it plans on acquiring in case its acquisition of CI Capital doesn’t pan out. Beltone Vice-Chairman Maged Shawky told Al Mal the company was aiming to make use of CI Capital’s ownership of Corplease to enter the leasing market. He added that the investment bank had also signed an MoU that remains active and allows it to acquire 8% of AXA Egypt’s shares. This could also provide it entry into the leasing and insurance markets.

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