Egypt’s Beltone to acquire majority stake in National Seeds Company

Established in 1981, NSC is an Egyptian joint-stock company that specializes in contracting, producing, and introducing innovative varieties and hybrids of crops, to provide superior seeds to farmers.

Additionally, NSC plays an active role in the distribution of seeds and crops, both domestically and internationally, bolstering its significance in the agricultural sector.

The completion of the acquisition is anticipated before the end of the year, pending the conclusion of all legal procedures and the receipt of necessary approvals per the regulations of the Egyptian Exchange, said the statement.

Furthermore, Beltone has stipulated that if NSC achieves the agreed-upon operational and financial targets, as well as fulfills specific requirements pertaining to the development and introduction of new seed varieties, additional payments of up to EGP 166 million will be made by Beltone in multiple installments.

The total transaction value is capped at a maximum of EGP 306 million, contingent upon NSC's fulfillment of all operational and financial prerequisites, the statement added.

Beltone Financial Holding operates 13 subsidiaries specializing in various areas of finance and investment.

Among these subsidiaries is Beltone Capital, which serves as the direct investments arm of Beltone Financial Holding, focusing on investments in technology, food and agribusiness, real estate, infrastructure, and export industries.