Cairo – Mubasher: Beltone Financial Holding announced that its board of directors approved to set up two companies in financial leasing and mortgage sectors.
The Egyptian asset management firm will own a stake of 98% in each of the to-be-established companies, according to a statement to the Egyptian Exchange (EGX) on Monday.
In addition, the company’s chairman and managing director were assigned to take the necessary measures and conduct negotiations to sell Beltone’s stake in US Auerbach Grayson & Company.
It is noteworthy that during the first nine months of 2019, the company’s losses attributable to the parent company's shareholders increased to EGP 63.3 million from EGP 27.2 million in the year-ago period, including minority shareholders’ rights.
