Beltone Holding has signed a share purchase agreement on February 10th to acquire a majority stake in the Baobab Group, according to a disclosure.

The stake acquisition will be carried out upon receiving the necessary approvals and fulfilling the required procedures.

Beltone Holding recorded 387.78% higher net profits at EGP 1.7 billion in 2024, compared to EGP 369.22 million in 2023.

The company operates within the diversified financial sector, providing brokerage, asset management, investment banking, and liquidity services in regional markets.