56% of Beltone's Shares Responded to Chimera's Acquisition Offer


About 259.12 million shares, or 56 percent, of Beltone Financial have responded to the acquisition offer submitted by Abu Dhabi-based Chimera, the Egyptian Exchange (EGX) announced yesterday.

Last month, Orascom Financial Holding (OFH) greenlit the sale of its 56-percent total stake in Beltone for EGP 384.8 million ($20.29 million), or EGP 1.485 ($0.08) per share.

Chimera originally offered to acquire between 51 and 90 percent of Beltone. Yesterday was the deadline for submitting purchasing orders on the latter's shares to proceed with the acquisition.