Sunday May 26th, 2024
Download the app
Copied

Egypt’s Beltone Acquires Majority Stake in National Seeds Company

The acquisition, currently being finalised, is valued at EGP 140 million.

Cairo Scene

Egypt’s Beltone Acquires Majority Stake in National Seeds Company

Beltone Financial Holding's Beltone Capital and investment platform NEPIT intend to acquire a 51% stake in The National Seeds Company (NSC), a prominent player in seeds and agricultural crop production. The acquisition, valued at EGP 140 million, involves shares owned by Cairo Capital for Financial Investments.

NEPIT will be finalising the acquisition before the end of the year, pending completion of legal procedures and receipt of necessary regulatory approvals in accordance with Egyptian Stock Exchange listing regulations.

In addition to the initial investment, NEPIT has agreed to make further payments of up to EGP 166 million over multiple tranches if NSC achieves agreed-upon operational and financial objectives, as well as specific requirements related to the development of new seed varieties. The total transaction value is capped at a maximum of EGP 306 million, contingent upon NSC meeting operational and financial prerequisites.

×

Be the first to know

Download

The SceneNow App
×