A five year management contract has been signed Monday between Beltone Private Equity and Arabiyya Istithmaraat (Arabian Investments).
Beltone Private Equity will manage the company in return for having 2% of Arabiyya Istithmaraat’s capital value and 10% of its net profits, annually. On the other hand, the private equity company will be responsible of paying the yearly expenses of Arabiyya Istithmaraat.
During 2014, former minister of investment and chairman of Arabiyya Istithmaraat Osama Saleh highlighted that Arabiyya Istithmaraat’s total expenditure was between EGP 8m and EGP 9m.
Beltone Private Equity will manage all the assets and work on developing new ones. The company will target some investments in new projects, especially in the energy sector.
Saleh said that the company is currently investing in active sectors in the Egyptian economy.
“We [Arabiyya Istithmaraat] will witness new developments with the new management,” Saleh said.