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Monday, 25 September 2017

BPE Partners looking for fresh investments in finance, energy, and food manufacturing ahead of planned IPO

INVESTMENT WATCH- BPE Partners looks for fresh investments in finance, energy, and food manufacturing: Investment firm BPE Partners is looking for new candidates in non-banking financial services, energy, and food manufacturing, founding partner Alaa Saba tells Al Mal in an interview. The firm is planning to invest EGP 200 mn in the first phase of planned expansions for its SME finance and leasing outfit Ibtikar for Investment Finance, which include the acquisition of an existing e-payments company, Saba says, refusing to disclose additional detail.

The Group’s Al-Ismaelia for Real Estate Investment is pressing forward to conservation and renovation work at historic properties it owns in Downtown Cairo that it plans to rent out for commercial purposes. The first phase of renovations, which should be complete in about six to nine months, is being financed using a EGP 150 mn loan from the European Bank for Reconstruction and Development, according to Saba.

BPE is also looking to buy a stake as high as 30% in four local solar power companies and will be joining a consortium of investors to acquire a controlling stake of 70% in a food manufacturing business, Saba says, without naming the companies. The firm will continue investing from its own balance sheet, which it is looking to expand with the proceeds from its upcoming IPO. BPE Partners is planning list 25-30% of its shares this year in an offering managed by EFG Hermes and Sigma Capital, with Zaki Hashem & Partners acting as legal counsel. Grant Thornton is preparing the fair value assessment.

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