Abu Dhabi's Chimera buys majority of Egypt's Beltone Financial

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Abu Dhabi investment firm Chimera Investment LLC said on Tuesday it has acquired a controlling stake in Egypt's Beltone Financial Holding , part of a strategy to expand in the Middle East and North Africa region.

A worker is seen at the headquarters office of Beltone Financial in Cairo, Egypt, October 26, 2015. REUTERS/Amr Abdallah Dalsh/File PhotoDUBAI, Aug 9 - Abu Dhabi investment firm Chimera Investment LLC said on Tuesday it has acquired a controlling stake in Egypt's Beltone Financial HoldingChimera bought 55.9% of Beltone at 1.485 Egyptian pounds a share, valuing the company at 661.8 million pounds , according to Reuters calculations.

Chimera was set up in 2007 and is part of Abu Dhabi's Royal Group, which is owned by Sheikh Tahnoun bin Zayed Al Nahyan, who is the United Arab Emirates' national security adviser and a half brother of the country's president, Mohammed bin Zayed.

 

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