Orascom Financial Holding, which is owned by well-known Egyptian millionaire Naguib Sawiris, has accepted a proposal prolonged by UAE-based Chimera Investments to accumulate a controlling stake in Egypt-based Beltone Financial Holding — an Orascom subsidiary.

The registrar preserving the register of enterprise entities initiates compulsory liquidation proceeding against the existing joint stock corporations that fail to act in accordance with the provisions of paragraph 5 of this Article.

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