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Tuesday, 11 February 2020

EBRD, NBE want a piece of Raya’s Aman Holding

M&A WATCH- EBRD, NBE want a piece of Raya’s Aman Holding: The European Bank of Reconstruction and Development and the National Bank of Egypt are both on a list of 24 investors who have submitted bids to acquire a minority stake in Raya subsidiary Aman Holding, Al Mal reports, citing informed sources. Eight local institutions and 16 foreign investors are interested in the 15-20% stake, the sources noted, which is expected to be completed within days. Aman Holding was set up last month to parent Raya’s three non-banking financial service arms — Aman for Financial Services, Aman for E-Payments, and Aman for Microfinance. The company holds a 99% stake in the former two businesses and a 74.5% stake in the latter.

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