Palm Hills is getting a piece of Taaleem: Property development giant Palm Hills Developments (PHD) will acquire Chairman Yasseen Mansour’s 29.6% stake in higher education outfit Taaleem, it said in an EGX disclosure (pdf). The acquisition will go through following the greenlight from the ordinary general assembly.

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The details: PHD will buy Mansour’s 216.1 mn shares at EGP 8.65 a share in an EGP 1.9 bn transaction. The developer has big plans in the education sector and Mansour’s ownership of a stake in Taaleem would present a conflict of interest, the disclosure said.

Remember: Mansour bought an additional 10.1% stake in Taaleem in an EGP 773.2 mn transaction last week, with the goal of seeing the company establish the largest number of private universities in Egypt, alongside finding high-tech solutions for administration and broadening the company’s social impact.

PHD and Taalemem are no strangers: Earlier last month, PHD and Taaleem inaugurated Badya University — a joint venture between the two sides — in New October City.

PHD has big education plans, here and abroad: Mansour said last month that PHD plans to set up 10 schools in the country within the next 10 years. It is also looking to develop up to 15 new schools in Saudi Arabia in partnership with Dallah Albaraka with combined investments of USD 300 mn.

That’s not the only acquisition in the pipeline for PHD: The developer’s board agreed to buy its majority owners’ — El Mansour and El Maghraby for Investment and Development — 9.5% stake in Macor for Securities Investment Company, pending approval from the company’s ordinary general assembly. PHD already owns 60% of Macor. Once the acquisition goes through, PHD will assume control over 69.5% of the company. The acquisition could be valued at some EGP 175.6 mn.

AND- A capital decrease in the works: PHD’s board gave its approval to a capital decrease that would see the company retire some 61.7 mn treasury shares. The board also approved buying back 88.2 mn treasury shares, capped at 3% of the company’s issued shares, via the special operations market.

PHD SECURES EGP 10.3 BN SYNDICATED LOAN-

PHD secures EGP 10.3 bn in financing for its Badya project: PHD has secured a long-term EGP 10.3 bn loan from a banking consortium to finance the development of its sustainable smart city Badya in New October City, according to a press release (pdf). The loan is the largest to ever be offered Egypt to a private sector company in the real estate sector, according to the release.

Badya? PHD’s EGP 100 bn Badya project is one of the company’s largest developments and is distinguished by its emphasis on sustainability and applying state-of-the-art tech applications.

Who’s involved? The banking consortium included Banque Misr, the National Bank of Egypt, Banque du Caire, Emirates NBD, Abu Dhabi Commercial Bank, Al Baraka Bank, Al Ahli Bank of Kuwait – Egypt, and the Industrial Development Bank.

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