Cairo – Mubasher: B Investments Holdings on Sunday announced it is currently considering investment opportunities in several sectors.
These sectors are the renewable energy, medical services, pharmaceuticals, and education, Egypt's private equity firm said in a statement to the Egyptian Exchange (EGX).
The opportunities range between a non-binding letter of intent and other opportunities being studied by the company’s internal investment committee in order to begin due diligence, B Investments highlighted.
The company noted that it aims to use liquidity resulted from subscriptions and initial public offerings (IPOs) in a number of these investments within 18 to 24 months.
The company will adopt an ambitious plan next year to raise the added value for all investors through diversifying its investment portfolio and benefiting from attractive opportunities in different sectors.
The plan targets acquiring a majority or a non-controlling stake directly or through collaboration with investors, the company indicated.
B Investments recently invested in the Egyptian food industry by acquiring a majority stake in Gourmet Egypt, according to the statement.
The company also developed and maintained its investments in the non-banking activities through Ibtikar Company.
In September, B Investments’ board of director agreed to acquire a majority stake of 40% in Gourmet Group at a value of EGP 65 million.
The board also approved an EGP 60 million capital hike, upon which the company would hold a 53% stake in Gourmet.
Gourmet Group includes Gourmet Egypt and Gourmet Food Solution.
