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Monday, 30 August 2021

Education outfit Taaleem undergoes ownership restructuring

The partners who sold shares in the IPO of Taaleem earlier this year are restructuring their holdings. CI Capital and Ahmed Badreldin’s RMBV sold in March a 49% stake in Taaleem in a hotly anticipated secondary sale that saw the higher-education-focused outfit make its EGX debut. Now, the two partners are disaggregating their 51% stake, moving shares out of the special purpose vehicle Sphinx Obelisk. CI Capital will hold its 30% stake in Taaleem through Egy Edu Invest while RMBV vehicle Tiba Group will hold the remaining 21%, Taaleem CFO Khaled Khater told us late yesterday. Taaleem reported the restructuring in a regulatory filing yesterday.

MEANWHILE- As many as 22 ins. companies are working with the government to issue c. EGP 1 bn-worth of mandatory ins. certificates under the travel ins. policy issued in June by the Financial Regulatory Authority which obliged Egyptians to pay an additional EGP 300 since last month when issuing or renewing their passports.

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