{"id":550468,"date":"2022-10-30T04:00:43","date_gmt":"2022-10-30T04:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/mnt-agrees-to-sell-21-7-stake-to-chimera-investments\/"},"modified":"2022-10-30T04:00:43","modified_gmt":"2022-10-30T04:00:43","slug":"mnt-agrees-to-sell-21-7-stake-to-chimera-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/mnt-agrees-to-sell-21-7-stake-to-chimera-investments\/","title":{"rendered":"MNT agrees to sell 21.7% stake to Chimera Investments"},"content":{"rendered":"

<\/a> Chimera snaps up c.22% of MNT Investments:<\/strong> Netherlands-based MNT Investments \u2014 which is majority-owned by GB Auto subsidiary GB Capital \u2014 agreed to sell a 21.7% stake to a unit of Chimera Investments<\/a>, GB Auto said in an EGX disclosure (pdf)<\/a> on Thursday.<\/p>\n

The sellers: <\/strong>GB Auto is selling a 7.5% indirect stake in MNT Investments for USD 60 mn with an earnout component that could reach USD 71.3 mn, according to the statement. The sale reduces GB Auto\u2019s indirect stake in MNT Investments to 49.5%. We don\u2019t know who the other sellers are, but Africa-focused private equity firm Development Partners International is among MNT Investments\u2019 current shareholders.<\/p>\n

GB Auto has been <\/strong>mulling a partial sale<\/a><\/strong> of MNT Investments since March<\/strong> and sold a 5% indirect stake in MNT<\/a> to unnamed foreign investors in a EGP 352.7 mn transaction last year.<\/p>\n

Chimera likes GB \u2014 and our wider NBFS sector: <\/strong>The Abu Dhabi-based investment firm recently entered talks with GB Capital to buy a 45% stake<\/a> in its leasing arm, GB Lease. Chimera also acquired a 56% stake in Beltone Financial<\/a> for around EGP 384.8 mn in August.<\/p>\n

What is MNT?<\/strong> The Netherlands-based payments company is the parent company of asset-based lender Mashroey<\/a> and microfinance player Tasaheel<\/a>. Last year they entered into a share swap agreement<\/a>with Egyptian fintech \/ delivery \/ ride-hailing company Halan to create super-app MNT-Halan.<\/p>\n

Advisors:<\/strong> Arqaam Capital acted as exclusive sell-side financial advisors to GB Auto, while White & Case acted as international legal counsel and Matouk Bassiouny served as local legal counsel. Adsero - Ragy Soliman & Partners acted as local counsel to Chimera, while Shearman & Sterling was international legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chimera snaps up c.22% of MNT Investments: Netherlands-based MNT Investments \u2014 which is majority-owned by GB Auto subsidiary GB Capital \u2014 agreed to sell a 21.7% stake to a unit of Chimera Investments, GB Auto said in an EGX disclosure (pdf) on Thursday. The sellers: GB Auto is selling a 7.5% indirect stake in MNT […]<\/p>\n","protected":false},"author":1,"featured_media":550469,"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":[2078,72,241,2471,7128,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-gb-auto","tag-gb-capital","tag-ma-watch","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"c95034ed-0327-4eef-8d94-7329f3f97e13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/370.jpg","photo_position":"above","related_issue":[550462],"teaser":"","voice_url":""},"yoast_head":"\nMNT agrees to sell 21.7% stake to Chimera Investments - 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\/30\/mnt-agrees-to-sell-21-7-stake-to-chimera-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MNT agrees to sell 21.7% stake to Chimera Investments\" \/>\n<meta property=\"og:description\" content=\"Chimera snaps up c.22% of MNT Investments: Netherlands-based MNT Investments \u2014 which is majority-owned by GB Auto subsidiary GB Capital \u2014 agreed to sell a 21.7% stake to a unit of Chimera Investments, GB Auto said in an EGX disclosure (pdf) on Thursday. 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GB Capital will retain the remaining\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\/12\/418.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577989,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/chimera-completes-acquisition-of-mnt-stake-from-gb-auto\/","url_meta":{"origin":550468,"position":2},"title":"Chimera completes acquisition of MNT stake from GB Auto","author":"enterpriseam admin","date":"12 December 2022","format":false,"excerpt":"CONSTRUCTION-Egypt-based Engineering Consultants Group (ECG) was awarded a contract to design a multi-purpose hall for Saudi mega city Neom, according to its website.COMMODITIES- Bidding in cooking complex tender wraps: Seven local and international companies bid in the Supply Ministry\u2019s tender for three new cooking oil complexes, Al Borsa reported Maj.\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\/2022\/12\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578992,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/gb-capital-sells-a-45-stake-in-gb-lease-to-chimera-investments\/","url_meta":{"origin":550468,"position":3},"title":"GB Capital sells a 45% stake in GB Lease to Chimera Investments","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"It\u2019s official: Chimera to acquire 45% of GB Lease: GB Capital has finalized an agreement to indirectly sell 45% of its leasing business, GB Lease, to our friends at Chimera Investments for EGP 855 mn, parent company GB Auto said in an EGX disclosure(pdf) Thursday. This comes two weeks after\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\/2023\/1\/357.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565466,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/gb-auto-subsidiary-sells-5-stake-in-mashroey-tasaheels-mnt-investments\/","url_meta":{"origin":550468,"position":4},"title":"GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel\u2019s MNT Investments","author":"enterpriseam admin","date":"11 April 2021","format":false,"excerpt":"GB Auto is selling down its indirect stake in Netherland-based subsidiary MNT Investments to unnamed foreign investors in a EGP 352.7 mn transaction, it said in a statement (pdf). Under an agreement with \u201ccertain foreign investment funds,\u201d a GB subsidiary will sell a 5% stake in MNT Investments. The sale\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-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":578516,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/","url_meta":{"origin":550468,"position":5},"title":"GB Auto agrees to sell 45% of its leasing business to Chimera Investments","author":"enterpriseam admin","date":"3 January 2023","format":false,"excerpt":"GB Auto approves GB Lease stake sale: GB Auto\u2019s board has approved plans to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, after approving the results of a fair value study (pdf), the company said in an\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\/2023\/1\/35.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\/550468","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=550468"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550468\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550469"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550468"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550468"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}