{"id":545560,"date":"2022-04-04T04:02:22","date_gmt":"2022-04-04T04:02:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/"},"modified":"2022-04-04T04:02:22","modified_gmt":"2022-04-04T04:02:22","slug":"b-investments-exits-giza-systems-to-stc-subsidiary","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/","title":{"rendered":"B Investments exits Giza Systems to STC subsidiary"},"content":{"rendered":"<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong><a href=\"https:\/\/binvestmentsegypt.com\/\">B Investments<\/a><\/strong><strong> is selling its entire 44.7% stake in engineering subsidiary <\/strong><strong><a href=\"https:\/\/gizasystems.com\/\">Giza<\/a><\/strong><strong><a href=\"https:\/\/gizasystems.com\/\">Systems<\/a><\/strong><strong> to Saudi Telecom\u2019s internet subsidiary, <\/strong>the Egyptian private equity firm said in a <a href=\"https:\/\/ent.news\/2022\/4\/BINV_Giza_Systems_Press_Release_English.pdf\">statement<\/a><a href=\"https:\/\/ent.news\/2022\/4\/BINV_Giza_Systems_Press_Release_English.pdf\">(pdf)<\/a>. B Investments\u2019 board accepted an undisclosed binding offer for the shares from <a href=\"https:\/\/solutions.com.sa\/news\/\">Solutions by STC<\/a> that would value Giza Systems at USD 145 mn, the statement read.<\/p>\n<p><strong>A turnaround for Giza Systems:<\/strong> A pioneer of what was once called the \u201cIT\u201d industry, the systems integrator has been in the market since the 1970s and lost a step in the marketplace prior to B Investments\u2019 <a href=\"https:\/\/binvestmentsegypt.com\/portfolio\/giza-systems\/\">acquisition in 2006<\/a>. The company now positions itself as a digital transformation specialist with some 1.4k professionals working across the Middle East and Africa providing \u201cindustry-specific technology solutions for asset-intensive industries\u201d including telecoms, utilities, and oil and gas.<\/p>\n<p><strong>The usual caveats: <\/strong>The final value of the shares will be decided based on Giza Systems\u2019 net debt and working capital at the close of the transaction, which is still pending final documentation and regulatory approvals, the statement read.<\/p>\n<p><strong>SOUND SMART- The Saudi telecom giant\u2019s internet arm debuted on the Riyadh exchange <\/strong><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-09-30\/saudi-internet-services-firm-surges-on-debut-amid-gulf-ipo-rush?sref=mmeFTDW1\">last September<\/a><\/strong> in a transaction that valued the firm at some SAR 18.1 bn (USD 4.8 billion).<\/p>\n<p><strong>This marks the latest in a stream of recent news about incoming M&A and investment from the Gulf to Egypt, <\/strong>on both the public and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5f0842e-f8fe-4bbe-ae01-41a01dc21e33\">private<\/a> side of things. Yes, our GCC neighbors are stepping in to offer us a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b620f717-d83d-4c48-906c-a85dca2eff2a\">helping hand<\/a> in a time of crisis \u2014 but this kind of news also underscores that many Egyptian sectors and firms offer an increasingly attractive proposition for regional investors. More of this, please.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>B Investments is selling its entire 44.7% stake in engineering subsidiary GizaSystems to Saudi Telecom\u2019s internet subsidiary, the Egyptian private equity firm said in a statement(pdf). B Investments\u2019 board accepted an undisclosed binding offer for the shares from Solutions by STC that would value Giza Systems at USD 145 mn, the statement read. A turnaround [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":545561,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[140,72,932,125,1601,1600],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-b-investments","tag-enterpriseam","tag-giza-systems","tag-investment-watch","tag-saudi-telecom-company","tag-solutions-by-stc","wpautop","entry"],"acf":{"mongo_id":"3c5a4fe4-2cf0-4bf2-bc7c-54571f540c99","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/108.jpg","photo_position":"above","related_issue":[545554],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>B Investments exits Giza Systems to STC subsidiary - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B Investments exits Giza Systems to STC subsidiary\" \/>\n<meta property=\"og:description\" content=\"B Investments is selling its entire 44.7% stake in engineering subsidiary GizaSystems to Saudi Telecom\u2019s internet subsidiary, the Egyptian private equity firm said in a statement(pdf). B Investments\u2019 board accepted an undisclosed binding offer for the shares from Solutions by STC that would value Giza Systems at USD 145 mn, the statement read. A turnaround [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-04T04:02:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"B Investments exits Giza Systems to STC subsidiary\",\"datePublished\":\"2022-04-04T04:02:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\"},\"wordCount\":277,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.jpg?fit=%2C&ssl=1\",\"keywords\":[\"B Investments\",\"EnterpriseAM\",\"Giza Systems\",\"investment watch\",\"Saudi Telecom Company\",\"Solutions by STC\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/\",\"name\":\"B Investments exits Giza Systems to STC subsidiary - 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Solutions by STC went public with\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548632,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/saudi-regulator-approves-stc-takeover-of-giza-systems\/","url_meta":{"origin":545560,"position":1},"title":"Saudi regulator approves STC takeover of Giza Systems","author":"enterpriseam admin","date":"16 August 2022","format":false,"excerpt":"Giza Systems is one step closer to being Saudi-owned: Saudi Arabia\u2019s competition watchdog has given the greenlight to Saudi Telecom\u2019s internet subsidiary to acquire a controlling stake in Giza Systems, it announced on social media on Sunday. Shareholders agreed to sell 89.5% of the company to Solutions by STC in\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578909,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/18\/stc-will-have-to-cough-up-more-for-giza-systems\/","url_meta":{"origin":545560,"position":2},"title":"STC will have to cough up more for Giza Systems","author":"enterpriseam admin","date":"18 January 2023","format":false,"excerpt":"B Investments just upped its Giza Systems valuation: BPE Partners\u2019 B Investments has increased Giza Systems\u2019 valuation by 7.6% to USD 128 mn after reviewing its working capital and cash balances, it said in an EGX disclosure (pdf) yesterday.ICYMI- B Investments agreed to sell its 44.7% stake in Giza Systems\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/300.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549913,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/","url_meta":{"origin":545560,"position":3},"title":"Solutions by STC now owns 88.2% of Giza Systems","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Solutions by STC has completed the acquisition of 88.2% of Giza Systems, it announced in a statement (pdf) yesterday. The company didn\u2019t disclose the final value of the transaction, but said Giza Systems has an enterprise value of USD 158 mn, almost 10% above the initial valuation back in April.\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/141.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549590,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/bids-for-alex-medical-arent-adding-up-b-investments-approves-fair-value-study-ahead-of-giza-systems-sale\/","url_meta":{"origin":545560,"position":4},"title":"Bids for Alex Medical aren\u2019t adding up + B Investments approves fair value study ahead of Giza Systems sale","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"A tale of two fair value studies: Things are not looking up for the Tawasol Holdings-LimeVest consortium\u2019s bid to acquire Alex Medical, as a fair value study from Andersen adds weight to the board\u2019s suggestion that the bid undervalues the company. Meanwhile, B Investments could close the sale of its\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578994,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/flush-after-exits-b-investments-targets-healthcare-food-sectors\/","url_meta":{"origin":545560,"position":5},"title":"Flush after exits, B Investments targets healthcare, food sectors","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"EGX-listed private equity firm B Investments intends to invest EGP 2 bn in the healthcare and food sectors in 2023, Chairman Hazem Barakat reportedly told Bloomberg Asharq. The company hopes to close an acquisition of a healthcare company in 1Q 2023, while the transaction in the food sector is expected\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=545560"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545560\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545561"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545560"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545560"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}