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B Investments Holdings approves Béard stake sale

B Investments Holdings approves Béard stake sale
The book value of the company’s investments in Béard SA amounts to EGP 9.5 million
B Investments Holdings
BINV
-0.95% 19.75 -0.19

Cairo – Mubasher: The board of directors of B Investments Holdings approved a decision to sell the company’s entire stake of 60% in Béard SA for EGP 19 million to be paid in installments.

The book value of the company’s investments in Béard SA amounts to EGP 9.5 million as per the company’s financial statements for the third quarter (Q3) of 2020, B Investments said in a bourse disclosure on Thursday.

During the first nine months of 2020, B Investments Holding achieved net profits of EGP 153.55 million, up from EGP 142.74 million in the year-ago period, including minority shareholders’ rights.