Global Continues Egypt Expansion With Take Over Of Two Companies

May 11, 2008 7:58 a.m. EST

Cairo, Egypt (AHN) - Leading international investment firm Global Investment House (Global) announced on Sunday that it had acquired two leading financial companies in Egypt. Capital Trust Co. and Misr International Securities were taken over as part of Global's expansion strategy, it said in a statement.

Capital Trust Co. in Cairo specializes in asset management and Misr International Securities focuses in securities and brokerage. Both companies were purchased with "an aim to broaden Global's immense investment opportunities present in the favorable Egyptian market."

"The acquisition of the two Egyptian companies will mark a greater presence for the company in the region. With our expertise and vision, Global will provide the investment community in Egypt with products and services that will exceed their expectations," Executive Vice President for Global, Omar M. El Quqa, said in a statement from the company.

"Global currently operates in 16 countries including branches and representative offices in Saudi, Bahrain, Qatar, Dubai, Abu Dhabi, Yemen, Jordan, Sudan and India. We firmly believe in the importance and necessity of having a direct presence in the Egyptian market and to take advantage of this huge economy and capital market," added El-Quqa.

Egypt is seen as a country with numerous investment opportunities. The nation's GDP rose by an unexpected 7.1 percent last year and analysts believe this will continue for the immediate future.