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Pioneers Holdings cancels Saudi licence
- Saudi Arabia: Tuesday, December 29 - 2009 at 10:46
Pioneers Holding, an Egypt-based financial firm, has cancelled its licence in Saudi Arabia and will use Beltone Financial's licence instead, Reuters has reported, citing a source close to the matter. Pioneers had agreed last month to buy regional investment bank Beltone Financial. 'After finalising the merger with Beltone, Pioneers will have more than a 50% direct stake in Saudi Arabia's market,' the source said.
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StaffTuesday, December 29 - 2009 at 10:46 UAE local time (GMT+4)
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