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Sunday, 4 October 2020

Ezdehar Egypt Mid-Cap Fund plans to exit Dsquares, two other companies within 6 months

M&A WATCH- Ezdehar Egypt Mid-Cap Fund is looking to sell its stake in customer loyalty card company Dsquares within the next six months, founding partner Emad Barsoum told Al Mal. Barsoum said the fund also plans to exit two other companies within the same period, and to make one last significant investment before the fund closes at the end of the year. Ezdehar acquired its “significant” minority stake in Dsquares in 2018, and invested again in 2019.

New fund to be launched before the end of 2020: Ezdehar will launch a new USD 200 mn fund before the end of the year and is expected to make its first investment in 1Q2021, Barsoum said. The new fund will target medium-sized companies operating in manufacturing, services, education, healthcare, non-banking financial services, investing USD 10-30 mn per transaction, he said in August.

Meanwhile, portfolio company Al Tayseer Healthcare Group will invest EGP 500-600 mn into its operations over the next five years and increase the number of beds in its international hospital to 240 from 160, Barsoum said. The fund last month acquired a minority stake in the health firm and said at the time that it was planning to invest in its hospitals and labs.

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