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 […]
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The Sovereign Fund of Egypt (“TSFE”) and education management firm Egypt Education Platform (“EEP”) have successfully entered into a joint acquisition of an undisclosed majority stake in the educational publishing entity Selah El Telmeez (“SET”). The investment, that is aimed to help Selah El Telmeez in its digital expansion and market share, is part of TSFE’s education investment strategy aimed at collaborating […]
Abou Ghaly Motors (“AGM”), specialists in the automotive industry in Egypt, has successfully secured a finance extension from The European Bank for Reconstruction and Development (“EBRD”) to finance AGM’s fleet of range-extended electric vehicle for its London Cab services. A loan of EGP 187.4 million (around EUR 10 million) from the EBRD is being complemented […]
Valu, a buy-now-pay-later (“BNPL”) lifestyle enabling fintech platform and a subsidiary of EFG Hermes Holding, has successfully acquired Paynas, a FinTech and digital HR platform. The transaction falls in line with Valu’s strategy to grow the business and enhance its tech power and allows it to reach Paynas’s extensive base of micro, small, and medium enterprises. […]
Adsero – Ragy Soliman & Partners assisted Telecom Egypt in signing the commercial agreement with Orange Egypt for national roaming services. The latest deal comes in light of Orange Egypt landing the tender for national roaming services that Telecom Egypt issued to all mobile network operators due to the impending expiration of the current agreement. The new agreement provides […]
Egyptian Belgian Co. for Industrial Investments (“Egybelg”) has sold some of its assets to Savola Foods Limited, a subsidiary of the Saudi-listed Savola Group, a strategic investment holding company with focus on the food and retail sectors in the Middle East and North Africa Adsero – Ragy Soliman & Partners has assisted Egybelg in this […]
