Back to the complete issue
Wednesday, 15 January 2020

Regional PE firm AfricInvest acquires 40% in Masria Cards

M&A WATCH- Regional PE outfit AfricInvest acquires 40% in Masria Cards: Private equity firm AfricInvest has closed a transaction acquiring a 40% stake in smart card supplier Masria Card, according to the local press, citing sources close to the matter. The transaction will be concluded in two phases: first by selling a small stake from businessman Ahmed Nafea’s 100% share, and then via a capital increase by the fund.

Advisors: EFG Hermes is acting as sell-side financial advisor, while Al Tamimi & Company served as a legal consultant. White & Case is the buy-side legal advisor.

This will be AfricInvest’s second investment in the country after recently acquiring a stake in Carbon Holdings, we reported earlier. Masria Cards, meanwhile, was a Nilex-listed company until it decided to voluntarily delist its shares in 2015. When it last made a bourse filing in that year, it had EGP 10.8 mn in capital and c.EGP 10.5 mn in half-yearly earnings.

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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender 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; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.