[ad_1]
Chimera Investments, an Abu Dhabi-based private investment firm that manages a diversified portfolio of listed and unlisted stocks in local and regional markets, has signed a definitive agreement to acquire Egyptian company GB Lease for 855 million Egyptian pounds ($35 million) 45% stake.
GB Capital, a subsidiary of GB Auto, said it would retain the remaining 55 percent of the company in a deal valued at 1.9 billion Egyptian pounds ($77 million). Talks between the two have been ongoing since September.
This comes shortly after parent company GB Auto sold a 7.5 percent stake in MNT Investments to Chimera for $60 million last week, with a possible profit of $71.3 million. It is part of a larger deal that sees Chimera acquire a 21.7% stake in the Netherlands-based payments company. The remaining 14.2% was sold by other unnamed investors in MNT.
In June 2021, MNT Investments, the financial services subsidiary of Egypt’s GB Auto, is supported by Development Partners International (DPI), Has said it will bring the super app Halan under its umbrella. MNT and Halan entered into a share swap agreement, but did not disclose details of the transaction. This essentially means that Halan shareholders get a stake in MNT.
Later, MNT-Halan Raised $120M from Apis Partners, DPI and Lorax Capital Partners. Venture capital investors Middle East Venture Partners, Endeavor Catalyst and DisruptTech also contributed.
Other existing investors in MNT-Halan include GB Capital, Algebra Ventures, Wamda, Nowaisi Capital, Unidelta, Egypt Ventures, Battery Road Digital Holdings and Shaka VC.
Chimera previously acquired a majority stake in Beltone, another Egyptian financial services firm.
Chimera Investments is part of Royal Abu Dhabi Group, a diversified conglomerate comprising more than 60 entities with 20,000 employees. The group is active in multiple industries including real estate, construction, FMCG, food and beverages, hotels, aviation, healthcare and general investments.
related
[ad_2]
Source link