CAIRO: Rasmala Investments Holdings today announced that it has acquired 51 percent of the Delta Financial Group in Egypt, according to a press statement.
This group includes Delta Securities Egypt, one of the five largest brokerage companies; Delta Asset Management, an established asset management firm recently; and Delta Capital Investments, a corporate finance firm with a track record in sourcing and executing investment banking transactions in the market. The remaining 49 percent share holdings in the Delta Financial Group will be held exclusively by Neveen El Tahri – the founder and chairman of the management team. Commenting on the announcement, Ali Al Shihabi, founder and CEO of Rasmala Investments Holdings said, “With the acquisition of Delta, Rasmala strengthens its regional reach by having established a strong presence, on the ground, in the biggest economies in the region – Saudi Arabia, the UAE and Egypt. Neveen El Tahri said, “This deal is the first step towards a full partnership and integration between Rasmala and Delta and will allow Delta to market its services to Gulf Corporation Council (GCC) clients more effectively. It will also increase the scope of services Delta delivers to its international institutional client base by offering them direct access to key GCC markets. On completion of the acquisition, Delta will operate in Egypt under the name “Delta Rasmala Investments and will be led by a board of directors chaired by Rasmala’s Chairman Cherine Mohsen Chalaby and co-chaired by El Tahri. She will also join the Board of Directors of Rasmala Investments Holdings.
