B Investments Approves 53.5% Stake Acquisition in BIG Investment Group

Egypt-based B Investments Holding has approved the acquisition of a 53.5% stake in BIG Investment Group Ltd through a share-swap transaction.

Under the proposed structure, BIG Investment Group shareholders will receive newly issued shares in B Investments through a capital increase, subject to applicable regulations and regulatory approvals.

BIG Investment Group holds a 20.4% stake in Cairo-based urban developer Madinet Masr.

B Investments’ board also authorised the chairman or managing director to appoint an independent financial adviser registered with the Financial Regulatory Authority if required.

The board adopted the disclosure report prepared under Article 48 of the Egyptian Exchange Listing Rules and will call an extraordinary general meeting once approval is obtained from the Financial Regulatory Authority.