Cairo – Mubasher: Beltone Leasing and Factoring Company, a fully-owned subsidiary of Beltone Financial Holding, penned a club deal agreement with Cairo Leasing Corporation and Easy Lease.
Through the partnership, Beltone seeks to finance Egyptians for Healthcare Services (EHCS) through a sale and leaseback worth EGP 600 million, according to a press release.
The transaction aims to finance the remaining costs associated with the development of EHCS’s service centre building and its land.
Hence, this will enable EHCS to unlock the value of its real estate assets in addition to retaining operational control and benefiting from the facilities.
Amir Ghannam, CEO of Beltone Leasing and Factoring, commented: "This collaboration reinforces our position as a trusted provider of innovative financing options and underscores our dedication to driving economic progress in Egypt.”
Ahmed Sherif, CEO and Managing Director of Cairo Leasing Corporation, said: "The collaboration among the three companies reaffirms our vision to support and meet the market's needs across all sectors and comes as a continuation of our efforts to form fruitful partnerships that positively impact the Egyptian market."
Ahmed El-Kholy, Managing Director of Easy Lease, underlined that the partnership aligns with their approach to developing strong relations with large investment groups accompanied by leading players in the leasing industry.
Hassan El-Kalla, Chairman of EHCS, stated: "This collaboration will provide us with the necessary financial resources to complete the service building in the first phase of Capital Med, the first integrated smart healthcare city in the Middle East and support our mission of delivering exceptional healthcare services."
Last December, Beltone Leasing signed a deal worth EGP 200 million with the Egyptian Company for Import and Export (EGMED), which marked its first factoring transaction since the license was obtained from the Financial Regulatory Authority (FRA) in September 2023.
On a separate note, the EGX-listed firm’s unit Beltone Asset Management recently launched Beltone Evolve Gold Fund Sabayek to directly invest in physical gold bullion.
