EIIB-Rasmala, a London-based asset manager and financing group, has raised its stake in Rasmala Egypt Asset Management (REAM) to 100% by acquiring the remaining 49% stake which it did own previously.
The acquisition is expected to further strengthen EIIB-Rasmala’s asset management business.
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The deal follows the launch of a series of new strategic initiatives for 2015, including the expansion of the Group’s leasing and real estate businesses.
Zak Hydari, CEO of EIIB-Rasmala, said: "The full acquisition of REAM is a further milestone in the consolidation of our fast growing regional asset management business. In line with our overall asset management strategy, we are now opening discussions with potential JV partners to expand our investment activities in both Egypt and other parts of Africa."
EIIB-Rasmala now employs nearly 100 staff in London, Dubai, Muscat and Cairo.
