NBE submits offer for minority stake in Aman Holding
M&A WATCH- NBE makes offer for minority stake in Raya’s Aman Holding: The National Bank of Egypt (NBE) has submitted an offer to Raya Holding to purchase a 20-25% stake in its subsidiary Aman Holding, Al Mal reports, citing unnamed informed sources. Raya’s board will meet to assess the offer and decide the process for due diligence, they said, without providing additional details.
Background: Raya received 24 offers for a minority stake in its Aman Holding from domestic and international investors in January. Aman Holding was set up earlier that month to parent Raya’s three non-banking financial service arms — Aman for Financial Services, Aman for E-Payments, and Aman for Microfinance. Aman was among the first two companies – along with Sarwa Capital’s Contact — to be awarded a consumer finance license by the Financial Regulatory Authority in April.