A consortium of investors made up of the European Bank for Reconstruction and Development (EBRD), French financial fund manager Amethis and private equity firm SPE Capital has acquired a majority stake in GlobalCorp for Financial Services (GlobalCorp), a non-banking financial services company in Egypt.
Established in 2015, GlobalCorp is an Egyptian non-bank lender with a current focus on leasing and factoring solutions to companies and small and medium-sized enterprises (SMEs). Since its inception, GlobalCorp has extended EGP 13 billion (US$ 715 million) in credit over 800+ leasing and factoring contracts, spanning more than 30 industries, with more than 25 per cent of its portfolio serving SMEs and green financing.
The investment in GlobalCorp will include a primary capital investment to scale up the company’s portfolio and expand into new business segments.
Zaki Hashem & Partners (ZH&P) has acted as the legal advisor to the European Bank for Reconstruction and Development (EBRD) in the acquisition of a 95% stake in GlobalCorp. The team was led by Yasir Elakhdar (partner) working alongside Tarek El Erian (senior associate).