Private Equity Firm B Investment Sells Its 20% Stake Of Total Egypt To Total Outre-Mer
buy modafinil online europe EGYPT – B Investments Holding, an Egypt-based private equity firm, has signed a contract to sell 20% of its stake in Total Egypt to Total Outre-Mer, France, for a total consideration of approximately EGP 146 million (US$9.3 million), in accordance with the exit terms pre-agreed with Total at the time of the investment in Total Egypt.
In a statement to the Egyptian Exchange (EGX), the company said that, after the deal’s completion, its stake in Total Egypt will decrease from 7.98% to 6.38%.
During the first nine months (9M) of 2020, B Investments Holding achieved profits of EGP 153.55 million (US$9.77m), compared to EGP 142.74 million (US$9.08m) in the comparative period of 2019, taking into account minority rights.
The company’s revenues rose during 9M 2020 to EGP 38.07 million (US$2.42m), compared to EGP 27.69 million (US$1.76m) in the comparative period of 2019.
On a quarterly basis, the company achieved profits of EGP 30.9 million (US$1.97m) during the third quarter (Q3) of this year, compared to EGP 37.4 million (US$2.38m) in the comparative quarter of in 2019.
At the level of standalone businesses, the company achieved profits of EGP 106.35 million (US$6.76m) during 9M 2020, compared to EGP 63.5 million (US$4.04m) in the comparative period of 2019.
B Investments is an Egypt-based private equity firm leveraging decades of management experience and deploying growth capital across diverse sectors in Egypt.
The company has a clearly delineated investment strategy that is rooted in its on-the-ground access and deep knowledge of the Egyptian market, and boasts a proven track record of value-creation for investors and portfolio companies.
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