Prime Holding agrees to acquire two of Pharos’ subsidiaries

CAIRO – 26 June 2019: The Board of Directors of Prime Holding Company agreed to submit an acquisition offer to two subsidiaries of Pharos Holding Company.

According to the company’s statement, the offer acquires the purchase of 100 percent of Pharos Securities and Pharos Investment Banking.

It added that the deal will be closed following the completion of the due diligence and the finalization of the acquisition agreement.

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

Prime Holding operates within the Diversified Financials sector focusing on Investment Banking and Brokerage. It has subsidiaries operating across Qatar, Singapore, UAE and Egypt.