The deal is expected to cost around
Pioneers specialises in brokerage services, offers market research and investment banking for retail and institutional clients but also has investment arms in real estate, industry and financial services.
Zaki said the group is considering floating and listing
Pioneers is also looking to acquire a significant stake in a food company this year, Zaki said, declining to give further details.
"After the revolution we took on a contractionary policy in the financial services sector but since the third quarter of 2013 the firm has revised that policy and we are working on increasing investments and focusing on it strongly," he said.
"We saw that many of those who exited the market after the 2011 uprising will return once more now."
Investors are hoping for more stability with the implementation of an army-led plan that could see new presidential and parliamentary elections this year.
The army ousted the country's first elected leader
Earlier this month Pioneers said it plans to spend
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