B Investments to inject EGP 250m in FY19

Cairo – MubasherB Investments Holdings is looking to invest EGP 250 million in the sectors of food industry, education, energy, and non-banking financial services in 2019.

The Egypt-based private equity firm has an estimated cash inflow at nearly EGP 600 million, resulted from robust profits and positive performance of its subsidiaries, co-founder and member of the company’s board of director Alaa Sabaa told local newspaper Almal.

The cash inflows will be used in financing the company’s possible transactions in the food industry and education sectors, Sabaa indicated.

Moreover, the company has entered negotiations to establish a private university, he added.

He also revealed that B Investments has used around EGP 200 million of its proceeds from the initial public offering’s (IPO) on the Egyptian Exchange (EGX) last year to raise the capital of its investment unit, Abtkar Finance Investment.

In August, the EGX announced that B Investments had submitted documents to amend its name to B Investments Holdings from BPE Holding For Financial Investments.

Mubasher Contribution Time: 04-Sep-2018 12:40 (GMT)
Mubasher Last Update Time: 04-Sep-2018 13:07 (GMT)