Covington Advised Egyptian Investment Bank in Acquisition of Brokerage Firm

NEW YORK—Covington advised Beltone Financial Holding, a leading Egyptian investment bank, in its acquisition of 51 percent of Auerbach Grayson & Company, a New York brokerage firm specializing in global trade execution and research on developed, frontier, and emerging markets for U.S. institutional investors.

This acquisition marks Beltone Financial’s entry into the U.S. market.

The Covington team included corporate partner Michael Reed, of counsel Chris DeCresce, and associate Ramy Ramadan. Advice was also provided by partner Bruce Bennett, with associate Nora Diamond-Jones (FINRA and securities), partner Rob Heller (tax), and associate Jenna Wallace (employee benefits).