B Investments planning to invest EGP 250 mn next year
INVESTMENT WATCH- B Investments planning to invest EGP 250 mn next year: Private equity firm B Investments is planning to invest EGP 250 mn next year in sectors including food production, education, energy, and non-banking financial services, founding partner Alaa Sabaa tells Al Mal. The transactions will be self-financed, according to Sabaa, who said that the company has around EGP 600 mn in liquid cash. Among the projects is a new private university, he added, offering no further details. Sabaa had previously said that B Investments was in the process of acquiring a controlling stake in an non-listed food and beverage company and also looking into buying a solar power plant in the Benban solar park. B Investment’s joint venture with Ebtikar for Financial Investment recently acquired Orascom Development Egypt’s full 87% stake in micro-financing group Tamweel in May in a EGP 360 mn transaction. It also bought a 33.7% stake in e-payments firm Masary for EGP 130 mn.