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Monday, 23 September 2019

CI Capital-led consortium acquires 60% of Taaleem for EGP 1.2 bn

M&A WATCH- CI Capital-led consortium acquires 60% stake in Taaleem in EGP 1.2 bn transaction: Investment bank CI Capital and a group of co-investors have completed the acquisition of a 60% stake in Taaleem Management Services Company, the owner and operator of Nahda University in Beni Suef, from Thebes Education Management Holdings in an EGP 1.2 bn transaction, CI Capital said in a statement (pdf). The consortium acquired the stake though CI Capital investment vehicle EGY EDU Invest. The firm kicked EGP 305 mn into the kitty for the acquisition, while the co-investors — which included StonePine ACE Fund, a JV between StonePine Capital and ACE — committed EGP 895 mn. CI Capital, which sponsored the transaction, originally said it would pay between 15-20% of the acquisition value. Taaleem’s current management, led by Mohamed El Rashidi, will “continue to lead and scale up the business,” CI said.

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