Cairo – Mubasher: Prime Holding’s board of directors has approved a proposal to buy two subsidiaries of Pharos Holding For Financial Investments.

Under the proposal, Prime will acquire 100% of the shares of Pharos Holding in Pharos Securities Brokerage and Pharos Investment Banking, according to a company statement.

The deal will be closed following the completion of the due diligence and the finalisation of the acquisition agreement.

Prime Holding has authorised the chairman to take all necessary measures to conclude the transaction, including obtaining the approval of the Financial Regulatory Authority (FRA).