{"id":549913,"date":"2022-10-05T04:05:16","date_gmt":"2022-10-05T04:05:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/"},"modified":"2022-10-05T04:05:16","modified_gmt":"2022-10-05T04:05:16","slug":"solutions-by-stc-now-owns-88-2-of-giza-systems","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/","title":{"rendered":"Solutions by STC now owns 88.2% of Giza Systems"},"content":{"rendered":"

<\/a> Solutions by STC has completed the acquisition of 88.2% of Giza Systems<\/strong>, it announced in a statement (pdf)<\/a> 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<\/a> back in April. In a separate statement (pdf)<\/a>, major shareholder B Investments said it sold its 44.7% stake at an equity valuation of USD 119 mn.<\/p>\n

The selling shareholders:<\/strong> Solutions by STC was on course to take an 89.5% stake in Giza Systems<\/a> from SPV Inergia Technologies, in which B Investments is the majority shareholder. Inergia holds a 65.7% stake in Giza Systems (including B Investments\u2019 stake). It\u2019s not known who the other sellers are.<\/p>\n

What they said: <\/strong>\u201cWe made this strategic decision to acquire Giza Systems in order to accelerate our growth and consolidate our position as the leader in the telecommunications and information technology market at a regional level. Giza Systems will remain independent and we will work together in order to diversify our offering to our clients within Saudi Arabia and beyond,\" CEO of Solutions by STC Omar Al Nomani said.<\/p>\n

More of this, please: <\/strong>\u201cWe are glad to have led one of the few management buyout transactions in Egypt,\u201d added BPE Partners CEO Mostafa El-Anwar. B Investments is a unit of BPE Partners which El-Anwar said \u201csupported management in growing and transforming the business through a series of value-added strategies.\u201d<\/p>\n

About Giza Systems: <\/strong>Giza Systems is present in 15 countries and has an annual turnover north of EGP 5 bn (USD 254 mn).<\/p>\n

ADVISORS-<\/strong> SNB Capital was Solutions by STC\u2019s financial advisor and Matouk Bassiouny & Hennawy and Freshfields acted as counsel. White & Case was international and local legal counsel on the sell side.<\/p>\n

STC WANTS TO MAKE SAUDI A REGIONAL DATA HUB-<\/strong><\/p>\n

The Saudi telecom giant plans to spend about USD 1 bn to transform Saudi Arabia into a<\/strong> regional data hub<\/strong> and is considering a stake sale in its Center3 business to finance the plans, Bloomberg<\/a> reports. KSA would invest the funds on building data centers and submarine data cables in order to host more media, gaming and corporate data, Center3 chairman Mohammed Alabbadi tells the business newswire. The firm has had talks with potential investors and is analyzing whether to pursue a direct equity share or an IPO, Alabbadi says.<\/p>\n","protected":false},"excerpt":{"rendered":"

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. In a separate statement (pdf), […]<\/p>\n","protected":false},"author":1,"featured_media":549914,"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":[140,2515,214,72,932,7128,219,1601],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-bpe-partners","tag-cit","tag-enterpriseam","tag-giza-systems","tag-ma-watch","tag-saudi-arabia","tag-saudi-telecom-company","wpautop","entry"],"acf":{"mongo_id":"c36b7a05-9d2e-4244-bb23-a48d8d0e4880","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/141.jpg","photo_position":"above","related_issue":[549905],"teaser":"","voice_url":""},"yoast_head":"\nSolutions by STC now owns 88.2% of Giza Systems - 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\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solutions by STC now owns 88.2% of Giza Systems\" \/>\n<meta property=\"og:description\" content=\"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. In a separate statement (pdf), […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-05T04:05:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/141.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Solutions by STC now owns 88.2% of Giza Systems\",\"datePublished\":\"2022-10-05T04:05:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\"},\"wordCount\":393,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/141.jpg?fit=%2C&ssl=1\",\"keywords\":[\"B Investments\",\"BPE Partners\",\"CIT\",\"EnterpriseAM\",\"Giza Systems\",\"M&A Watch\",\"Saudi Arabia\",\"Saudi Telecom Company\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/solutions-by-stc-now-owns-88-2-of-giza-systems\/\",\"name\":\"Solutions by STC now owns 88.2% of Giza Systems - 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Solutions by STC went public with\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\/4\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545560,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/04\/b-investments-exits-giza-systems-to-stc-subsidiary\/","url_meta":{"origin":549913,"position":2},"title":"B Investments exits Giza Systems to STC subsidiary","author":"enterpriseam admin","date":"4 April 2022","format":false,"excerpt":"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,\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/108.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":549913,"position":3},"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 "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\/internal\/536550.png?resize=350%2C200&ssl=1","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":549913,"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 "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\/9\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547010,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/is-beltone-in-play\/","url_meta":{"origin":549913,"position":5},"title":"Is Beltone in play?","author":"enterpriseam admin","date":"6 June 2022","format":false,"excerpt":"An investor alliance led by WM Consultancy has submitted a non-binding offer to buy a majority stake in Beltone Financial, the two companies said in filings to the EGX (pdf | pdf) yesterday. The consortium of unidentified \u201cstrategic investors\u201d is bidding to acquire a minimum of 51% and a maximum\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\/6\/150.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\/549913","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=549913"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549913\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549914"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549913"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549913"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}