Back to the complete issue
Thursday, 19 July 2018

Aur Capital, Wadi Degla set up real estate private equity JV

Aur Capital, Wadi Degla set up real estate private equity JV: A subsidiary of former Investment Minister Ashraf Salman’s private equity outfit, Aur Capital, and Wadi Degla Real Estate signed yesterday an agreement to set up a real estate private equity JV, according to a joint statement (pdf). The agreement will see Aur Capital acquiring an undisclosed stake in Wadi Degla through a capital increase and a share swap in the new firm. Ownership will be split 70/30, with Wadi Degla holding the balance. The JV is expected to invest some EGP 10 bn over the course of the next five years. Arab Legal Consultants acted as legal counsel on the transaction.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.