Cairo – Mubasher: The board of B Investments Holding has accepted a binding offer submitted by Arabian Internet and Communications Services Company (solutions) to acquire the Egyptian firm’s 44.70% entire stake in Giza Systems Company.

Giza Systems will pay a total enterprise value of $145 million for the equity acquisition, according to a recent bourse disclosure.

The acquisition is subject to finalising transaction documents and customary regulatory approvals.

B Investments owns 68% in its subsidiary Inergia Technologies, which owns 65.70% of Giza Systems. Accordingly, B Investments’ indirect stake in Giza Systems will stand at 44.70%.

It is worth noting that solutions, a subsidiary of Saudi Telecom Company (stc), inked a binding deal to acquire a majority stake in Giza Systems at a value of $158 million.