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Thursday, 1 September 2022

Beltone elects new board members following Chimera acquisition

Beltone Financial shareholders have elected four new board members as part of its restructuring of the board following Chimera Investments’ acquisition of a majority stake in the firm, according to an EGX disclosure (pdf). For a period of three years, the board will now include:

  • Dalia Khorshid (LinkedIn) as managing director and CEO. Khorshid is a former investment minister and the current Masar chairwoman, and was appointed to head Beltone by Chimera earlier this month;
  • Syed Shueb (LinkedIn) as non-executive chairman. Shueb is the managing director of the UAE’s International Holdings Company;
  • Andrea Mollica (LinkedIn) as a non-executive board member. Mollica is currently an investment manager at the UAE’s Royal Group, which owns Chimera;
  • Mirian Khalaf (LinkedIn) as a non-executive board member. Khalaf is the head of private equity at Chimera.

Background: Abu Dhabi-based investment company Chimera Investments replaced Orascom Financial Holding as Beltone’s controlling shareholder earlier this month after purchasing its 56% stake at EGP 1.485 per share.

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