Chimera Investment acquires 45% stake of GB Lease
Chimera Investment has acquired 45% of GB Lease, a subsidiary of GB Auto, for EGP 855 million. This transaction comes as the latest episode in a series of investments made by Chimera in the non-banking financial services sector in Egypt and shows its confidence in the Egyptian market and the high prospects of this developing sector of the Egyptian economy.
Adsero – Ragy Soliman & Partners provided Chimera Investment with the necessary legal advice. The team was led by Ahmed Abdelgawad (partner and co-head of M&A and capital markets) and Ibrahim ElGengehy (counsel), assisted by Farida Banany (managing associate), Soha Hussein (associate) and junior associates Farida Koura and Yasmine Badawy and with the support of Ehab Fedaa (partner and head of general corporate) and Ibrahim ElMessery (senior associate).
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to GB Auto Group (“GB Corp”) in connection with the sale of GB Lease’s indirect minority stake. The MBH team advising on the transaction was led by Tamer El Hennawy (partner and co-head of corporate and m&a and capital markets) and Amr Baggatto (partner) and included Hana Wafa (associate) and Sophia Lyna Meziane (associate), with Arqaam Capital acting as sell-side financial advisor.