Cairo – Mubasher: CI Capital Holding for Financial Investments announced that it has completed together with other investors the acquisition of a 60% interest in Taaleem Management Services for EGP 1.2 billion from Thebes Education Management Holdings B.V.

The Egyptian diversified financial services and investment group contributed EGP 305 million to the transaction through EGY EFU Invest, a newly-founded investment vehicle controlled by CI Capital, according to a statement to the Egyptian Exchange (EGX) on Sunday.

The remaining value was pumped by a group of local and international investors, including StonePine ACE Fund.

It is worth to mention that the independent financial advisor FinCorp Financial Advisory earlier estimated the fair value (FV) of the equity of Taaleem Management Services at EGP 2.7 billion. 

Egyptian higher education platform Taaleem controls and operates Nahda University in Beni Suef which hosts more than 5,200 students.

During the first half of 2019, CI Capital’s net profit increased to EGP 235.24 million from EGP 169.67 million in H1-18.