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MarketScreener Homepage  >  Equities  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  CI Capital Holding Company SAE       

CI CAPITAL HOLDING COMPANY SAE

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CI Capital SAE : to acquire 60% indirect stake in education firm

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04/15/2019 | 08:41am EST

The transaction is to take place during Q3-19

CI Capital HoldingCICH

0.55% 9.10 0.05

Cairo – Mubasher: CI Capital Holding on Monday announced it has signed a contract to acquire an indirect stake of 60% stake in Taleem Educational Services and Consultations (TESC).

The transaction is expected to be implemented during the third quarter of 2019, CI Capital said in a statement to the Egyptian Exchange (EGX).

The acquisition is not eligible until all legal and contractual conditions are fulfiled, the company noted.

The company may invest around 15% to 20% of the total transaction as a sponsor since it would share the remaining stake with a number of investors, according to the statement.

TESC is an investment joint venture owned by a number of global investment institutions and international funds that operates Nahda University in Beni Suif that has over 5,200 students.

It is worth noting that CI Capital previously reported a net profit of EGP 487.25 million for fiscal year 2018, versus EGP 274.19 million in 2017.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
Hazem Mohamed Magdy Khalil Badran Co-Managing Director & Executive Director
Tarek Mohamed Salah El-Din Tantawy Co-Managing Director & Executive Director
Mahmoud Fathi Atta Ullah Chairman & Co-Managing Director
Hani Salah Sarie El-Din Independent Non-Executive Director
Omar Abdelaziz Mohanna Independent Non-Executive Director
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