{"id":547416,"date":"2022-06-21T04:21:22","date_gmt":"2022-06-21T04:21:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/21\/ksas-alhokair-family-agrees-to-acquire-4-99-of-valu\/"},"modified":"2022-06-21T04:21:22","modified_gmt":"2022-06-21T04:21:22","slug":"ksas-alhokair-family-agrees-to-acquire-4-99-of-valu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/21\/ksas-alhokair-family-agrees-to-acquire-4-99-of-valu\/","title":{"rendered":"KSA\u2019s Alhokair family agrees to acquire 4.99% of valU"},"content":{"rendered":"

<\/a> valU welcomes new minority Saudi owners: <\/strong>The Alhokair family looks set to acquire a 4.99% stake in EFG Hermes\u2019 buy-now-pay-later platform valU, according to a statement (pdf)<\/a> out yesterday. Brothers Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair have agreed to acquire the stake through a USD 12.4 mn capital increase, valuing the company at USD 247.4 mn, according to the statement.<\/p>\n

You buy my stake, and I\u2019ll buy yours: <\/strong>The agreement comes just a few weeks after the buy-now-pay-later platform agreed to purchase a 35% stake<\/a> in new Saudi consumer finance player Fas Finance<\/a>, which is partly owned by Fawaz Abdulaziz Alhokair Company<\/a> (Alhokair). The SAR 19.3 mn (EGP 95.75 mn) transaction will give valU access to the Saudi market for the first time. The company purchased the stake from Fas Labs, a 50\/50 joint venture between Alhokair and mall developer Arabian Centres Company<\/a> (ACC), which is also part-owned by the family.<\/p>\n

Nothing is set in stone just yet:<\/strong> The capital increase is pending regulatory approvals and the fulfillment of certain undisclosed conditions.<\/p>\n

What they said:<\/strong> \u201cThe transaction \u2026 is a testament to valU\u2019s visible success story, business model, and potential for growth in Egypt and on a regional level,\u201d said Karim Awad, Group CEO of EFG Hermes.<\/p>\n

It might not be long until Amazon is a valU shareholder:<\/strong> Amazon agreed to purchase USD 10 mn worth<\/a> of EFG\u2019s London-listed GDRs with an option to convert them into a 4.255% equity stake in valU should a third-party investor purchase shares in the company, or if valU is sold, IPOed, or otherwise listed.<\/p>\n

The story also got a mention from Kelma Akhira\u2019s<\/strong> Lamees El Hadidi (watch, runtime: 1:48<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

valU welcomes new minority Saudi owners: The Alhokair family looks set to acquire a 4.99% stake in EFG Hermes\u2019 buy-now-pay-later platform valU, according to a statement (pdf) out yesterday. Brothers Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair have agreed to acquire the stake through a USD 12.4 mn capital increase, valuing […]<\/p>\n","protected":false},"author":1,"featured_media":547417,"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":[7363],"tags":[514,84,72,183,7128,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-consumer-finance","tag-efg-hermes","tag-enterpriseam","tag-fintech","tag-ma-watch","tag-valu","wpautop","entry"],"acf":{"mongo_id":"1c1b2e26-b114-4d61-b81d-cb0d118bfffd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/257.jpg","photo_position":"above","related_issue":[547406],"teaser":"","voice_url":""},"yoast_head":"\nKSA\u2019s Alhokair family agrees to acquire 4.99% of valU - 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\/06\/21\/ksas-alhokair-family-agrees-to-acquire-4-99-of-valu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KSA\u2019s Alhokair family agrees to acquire 4.99% of valU\" \/>\n<meta property=\"og:description\" content=\"valU welcomes new minority Saudi owners: The Alhokair family looks set to acquire a 4.99% stake in EFG Hermes\u2019 buy-now-pay-later platform valU, according to a statement (pdf) out yesterday. 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Under the partnership, valU will purchase a 35% stake in the Shariah-compliant lender from\u2026","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610401,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/20\/alhokair-unit-could-invest-up-to-usd-1-5-bn-here-next-year\/","url_meta":{"origin":547416,"position":1},"title":"Alhokair unit could invest up to USD 1.5 bn here next year","author":"enterpriseam admin","date":"20 November 2023","format":false,"excerpt":"Other participating companies could make announcements today","rel":"","context":"In \"EnterpriseAM\"","block_context":{"text":"EnterpriseAM","link":"https:\/\/enterpriseam.com\/egypt\/tag\/enterpriseam\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1029.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548808,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/23\/valu-acquires-paynas\/","url_meta":{"origin":547416,"position":2},"title":"valU acquires PayNas","author":"enterpriseam admin","date":"23 August 2022","format":false,"excerpt":"EFG Hermes\u2019 consumer finance arm valU has acquired 100% of digital HR and payroll platform Paynas, valU said in a statement (pdf) yesterday, without disclosing the value of the transaction. The acquisition will see valU tap into Paynas's roster of micro and small-business clients, while Paynas will add valU\u2019s buy-now-pay-later\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/356.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548105,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/26\/valu-gets-walid-hassounas-full-attention\/","url_meta":{"origin":547416,"position":3},"title":"valU gets Walid Hassouna\u2019s full attention","author":"enterpriseam admin","date":"26 July 2022","format":false,"excerpt":"valU has Walid Hassouna\u2019s full attention: Walid Hassouna is leaving his position as CEO of EFG Hermes\u2019 Non-Bank Financial Institutions (NBFI) platform to dedicate himself full-time to his role as CEO of its buy-now-pay-later (BNPL) platform valU, according to a press release (pdf). \u201cThe decision to appoint Hassouna as CEO\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547715,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/valus-bnpl-services-are-now-available-on-amazon-egypt\/","url_meta":{"origin":547416,"position":4},"title":"valU\u2019s BNPL services are now available on Amazon Egypt","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"EFG Hermes\u2019 subsidiary valU\u2019s buy-now-pay-later installment plans are now available to customers of Amazon Egypt, according to a joint statement (pdf) out yesterday.Amazon could soon be a valU shareholder: Amazon has the option of acquiring a 4.3% equity stake in valU after it invested USD 10 mn in EFG\u2019s London-listed\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603271,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/alhokair-looks-to-raise-usd-1-bn-in-ipo-of-its-malls-unit\/","url_meta":{"origin":547416,"position":5},"title":"Alhokair looks to raise USD 1 bn in IPO of its malls unit","author":"enterpriseam admin","date":"17 April 2019","format":false,"excerpt":"IPO WATCH- Alhokair malls unit IPO is back on Fawaz Alhokair Group is gearing up for a USD 1 bn IPO of its mall unit, Arabian Centres Co., Bloomberg reports. The Saudi retail giant is planning to sell about 65 mn existing shares and 30 mn new shares on the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547416","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=547416"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547416\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547417"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547416"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547416"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}