Naeem Holding for Investments (NAHO) announced that it has finalised the acquisition of Al Tawfeek Brokerage and Al Tawfeek for financial investments for EGP 24m after completing the due diligence review.
According to a statement issued by NAHO, the acquisition deal represents 100% of the two companies. The acquisition of Al Tawfeek Brokerage is worth EGP 16.3m, while Al Tawfeek for financial investments cost EGP 7.5m.
NAHO had finalised the due diligence review of Al Tawfeek Brokerage and Al Tawfeek for financial investments in August.
Al Tawfeek for financial investments holds a licence to practise asset management, and the promotion and underwriting of IPOs.
NAHO is among the region’s leading investment houses, offering a comprehensive suite of financial services to major MENA-based investors while acting as the broker of choice for foreign institutional clients seeking to invest in the region’s capital markets. NAHO is considered a hybrid financial services firm, as it holds significant proprietary investments owned alongside clients while at the same time housing a fully-fledged investment banking arm.
NAHO delivers financial solutions through five divisions: brokerage, investment banking, private equity, asset management, and research. Serviceability and client relations are a priority for NAHO, both supported by an expanding network of branches and offices. The company currently has two branches in Egypt and the United Arab Emirates.