Cairo-Mubasher: The Egyptian Exchange (EGX) announced Monday that it has executed the mandatory tender offer submitted by Orascom Telecom Media and Technology Holding (OTMT) and Act Financial to buy acquire Beltone Financial Holding.
The buy offer was carried out on 158.3 million shares at EGP 4 each.
Earlier, OTMT announced that a majority of Beltone Financial Holding shareholders representing 97.4% have responded positively to the Tender Offer submitted on October 25, 2015.
The mandatory tender offer started on 1 November until 12 November.
According to the deal terms, OTMT will contribute 87% in this offer, while Act Financial will hold the remaining 13%.
