CI Capital-led consortium agrees to buy 60% of Taaleem

M&A WATCH- CI Capital-led consortium reaches agreement to buy 60% stake in Taaleem: CI Capital and a group of co-investors has entered into an agreement to acquire a 60% stake in Taaleem Management Services Company, the owner and operator of Nahda University in Beni Suef, from EDU MENA Holdings Coöperatief U.A, CI Capital said in a bourse filing (pdf). The company did not disclose the transaction value. CI Capital, which is acting as the transaction’s sponsor, will pay 15%-20% of the acquisition value, and expects the sale to be concluded in 3Q2019, pending the satisfaction of conditions precedent and regulatory approval. The acquiring parties will back Taaleem’s current management, led by Mohamed El Rashidi, to “continue to lead and scale up the business.”