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Wednesday, 4 September 2019

CIRA acquires majority stake in BCCIS for up to EGP 100 mn

Leading private sector education provider Cairo for Real Estate and Investment (CIRA) has agreed to acquire a majority stake in the British Columbia Canadian International School (BCCIS) through the acquisition of a 60% stake in its parent company, Star Light Educational DMCC Corporation, it said in an EGX disclosure (pdf). The transaction will cost up to EGP 100 mn. The company also agreed to an undisclosed fair share value set by independent financial advisor Fincrop, it said.

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