CI Capital SAE to acquire 60% indirect stake in education firm

 In news

CI Capital Holding on Monday announced it has signed a contract to acquire an indirect stake of 60% stake in Taleem Educational Services and Consultations (TESC).

The transaction is expected to be implemented during the third quarter of 2019, CI Capitalsaid in a statement to the Egyptian Exchange (EGX).

The acquisition is not eligible until all legal and contractual conditions are fulfiled, the company noted.

The company may invest around 15% to 20% of the total transaction as a sponsor since it would share the remaining stake with a number of investors, according to the statement.

TESC is an investment joint venture owned by a number of global investment institutions and international funds that operates Nahda University in Beni Suif that has over 5,200 students.

It is worth noting that CI Capital previously reported a net profit of EGP 487.25 million for fiscal year 2018, versus EGP 274.19 million in 2017. Source: Market Screener

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search