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Thursday, 1 August 2019

Azimut gets greenlight to acquire Rasmala subsidiary

M&A WATCH- Azimut gets green light to acquire Rasmala subsidiary: The Financial Regulatory Authority (FRA) has approved Italy-based asset manager Azimut Group’s acquisition of 100% of Rasmala Egypt Asset Management (REAM) from its parent company Rasmala Group, REAM chairman and MD Ahmed Abou El-Saad told Al Mal. The transaction, the value of which remains undisclosed, is expected to be concluded next week but the name will be changed to Azimut Egypt Asset Management later, Abou El-Saad said. Azimut signed the agreement to acquire REAM back in January.

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