Daily News Egypt

Prime Holding completes its due diligence to acquire Pharos - Daily News Egypt

Advertising Area



Advertising Area



Prime Holding completes its due diligence to acquire Pharos

Prime Holding added that discussions are currently in progress regarding the due diligence findings in preparation for signing of the definitive agreements in order to complete the transaction after securing the required approvals from the Financial Regulatory Authority.


Prime Holding announced it has completed its due diligence regarding the acquisition of 100% of Pharos Holding for Financial Investments’ shareholding in Pharos Securities Brokerage, Pharos Investment Banking and Pharos Holding’s custody business in accordance with the Letter of Intent signed between the two parties on 25 June.

Prime Holding added that discussions are currently in progress regarding the due diligence findings in preparation for signing of the definitive agreements in order to complete the transaction after securing the required approvals from the Financial Regulatory Authority.

Official sources said that the transaction file will be closed soon, as the current period is witnessing meetings between the parties to determine the value of the deal.

The sources expected the implementation of the deal, where there is satisfaction between the parties on the overall result of due diligence.

Advertising Area


https://ww.dailynewssegypt.com/2019/08/20/prime-holding-completes-its-due-diligence-to-acquire-pharos/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe