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Wednesday, 2 March 2022

GB Auto mulls selling a portion of its stake in MNT Investments

GB Capital is mulling a partial sale of its Netherlands-based finance subsidiary MNT Investments, which is majority owned by the GB Auto subsidiary, the company announced in a regulatory filing (pdf). The statement did not specify the number of shares GB Capital is looking to sell, but said it began considering the transaction after other MNT Investment shareholders expressed interest in selling a portion of their stakes to an unnamed investor.

Who’s selling? The company did not name the shareholders intending to sell stakes in MNT. We do know that Africa-focused private equity firm Development Partners International is among the company’s current shareholders. GB Auto also sold a 5% stake to “unnamed foreign investors” last year.

Advisors: Arqaam Capital has been appointed to advise GB Capital on options to “enhance the benefit of its investments and contributions in subsidiaries.”.


Recycle Key in talks with potential partners for new factory: E-waste recycling company Recycle Key is in talks with three similar companies to potentially enter a joint venture set up its new EGP 200 mn recycling facility in Sadat City’s industrial zone, Al Borsa quotes company head Mohamed Sayed as saying. Recycle Key is also in talks with Banque Misr, the National Bank of Egypt, and Suez Canal Bank to potentially finance the factory as an alternative to a JV.

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