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Sunday, 20 May 2018

Beltone to launch acquisition bid for West African consumer finance provider Oragroup

M&A WATCH- Beltone to launch acquisition bid for West African consumer finance provider Oragroup: Beltone Financial’s board approved in principle on Saturday launching a bid to acquire a significant interest in African banking and financial holding company Oragroup, which serves 400k customers in 12 countries, mostly in West Africa. (You can check out the company’s 2016 annual report here in pdf.) Beltone intends to sign a non-binding offer and intends to conduct a preliminary feasibility study for the transaction before commencing due diligence. The board also signed off on hiring advisers for the transaction. The move is part of Beltone’s plan to expand in African financial markets, according to a company statement (pdf).

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