EFG Hermes looking to close new education acquisition in Egypt this year

M&A WATCH- EFG Hermes looking to close new education acquisition this year: The Egypt Education Fund, EFG Hermes’ joint education platform with Gems Education, is expecting to close a new acquisition before the end of the year“to expand the platform’s service offering range,” according to the company’s earnings release (pdf). EFG did not disclose further information. The fund, which was established in 2018, is focused on K-12 education in Egypt through a 50/50 joint venture between EFG and Gems. Its investments in Egypt’s education sector are expected to reach USD 300 mn by 2023.