CAPITAL MARKETS-

StonePine Ace Partners sold its entire 7% stake in Taaleem Management Services through an accelerated bookbuild, marking its full exit from the higher education company, according to a statement (pdf) from StonePine Ace Partners advisor and bookrunner EFG Hermes. The transaction delivered a return of 4.8x the original investment in EGP terms and 1.8 times in USD terms.

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MANUFACTURING-

#1- Schneider Electric completed an EUR 8 mn expansion of its Badr City factory, adding 10k sqm of production space to manufacture low- and medium-voltage panels and ring main units, according to a cabinet statement. The expansion is expected to raise the plant’s output by 30%, increase the local component ratio to 85%, and expand exports. The facility is Schneider’s largest in the Middle East, and it operates as a carbon-neutral site, sourcing 20% of its energy from solar power and the remainder from other renewable sources.

** We spoke with the manager of the newly upgraded factory last week for our Manufacturer of the Month column. Check out our interview with Arda Çimen here.

#2- The state-owned Holding Company for Spinning and Weaving-led initiative to boost capacity has some hefty targets to meet, including increasing its weaving capacity nearly 8x to 198 mn meters a year over an unspecified time frame, according to a statement from the Public Enterprises Ministry. The project also aims to increase its spinning capacity by more than 4x to 133k tons a year and its ready-made garment production capacity by over 4x to 40 mn pieces a year.

DEBT WATCH-

Afreximbank extended a USD 36.4 mn financing facility to contractor Samco Egypt to carry out the construction of the Akii Bua Olympic Stadium in Uganda, the lender said in a statement. The stadium is one of the venues set to host matches during the 2027 Africa Cup of Nations, which will be jointly hosted by Uganda, Kenya, and Tanzania. The funding will be offered through Afreximbank’s Engineering, Procurement, and Construction program and will cover project design, construction, and the purchase of required materials.

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