{"id":565466,"date":"2021-04-11T13:58:15","date_gmt":"2021-04-11T13:58:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/gb-auto-subsidiary-sells-5-stake-in-mashroey-tasaheels-mnt-investments\/"},"modified":"2021-04-11T13:58:15","modified_gmt":"2021-04-11T13:58:15","slug":"gb-auto-subsidiary-sells-5-stake-in-mashroey-tasaheels-mnt-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/11\/gb-auto-subsidiary-sells-5-stake-in-mashroey-tasaheels-mnt-investments\/","title":{"rendered":"GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel\u2019s MNT Investments"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>GB Auto is selling down its indirect stake in Netherland-based subsidiary MNT <\/strong><strong>Investments to unnamed foreign investors<\/strong> in a EGP 352.7 mn transaction, it said in a <a href=\"https:\/\/ent.news\/2021\/4\/GB-Auto-MNT-Investments-04.11.21-1.pdf\">statement (pdf)<\/a>. Under an agreement with \u201ccertain foreign investment funds,\u201d a GB subsidiary will sell a 5% stake in MNT Investments. The sale will bring GB Auto\u2019s stake in MNT Investments down to 57.26%, and will be completed as soon as the companies involved \u201cfulfil their legal obligations,\u201d the statement said.<\/p>\n<p><strong>Who\u2019s MNT? <\/strong>It's the parent company of asset-based lender <a href=\"https:\/\/www.facebook.com\/Mashroey-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A-598542883658417\/?hc_ref=ARRdsjq2suFfrFiPtI75buqHai-MyB6F-o23RBLq4znReRSlWZn57gVw8vm4cSGZmL4&fref=nf&__tn__=kC-R\">Mashroey<\/a> and microfinance player <a href=\"https:\/\/www.facebook.com\/tasaheelegypt\/?hc_ref=ARTdyQ6lahw-Fir_ow74fYmM55SBgxlxZqhaQgufXZ629DyqNEHw0IIGwRxb6RZ9yTc&fref=nf&__xts__[0]=68.ARApEE7UHk-CWOZ9bXoTSzV9WvwSwaSlM0tSIuLcu5WEImQ5LbbEjQDj1tEeI9tbERx1dqpDOQGndHZocYm_LWNlamUhLrOYk9IuV-P8kHVrye7warioyr_ui3Sj5KGd31KSr5vCcfD3AcVcxBOIOZ9K4s60B1kNJMW9cHySyTD_dV_8ykh3tPMNtTmmCXGB5DGetac-sDk671YQN_hP3xd3Xta_-CiE-fJUYk5RymYDXIqpWtm_8EMZ_q_2qHotD90GbPaRnS8uLJMfuQJqbfCNFZh02XTJ_KeTefNkGJi9dQqaWqyHBWg&__tn__=kC-R\">Tasaheel<\/a> and is majority-owned by GB Auto\u2019s financial services arm GB Capital. MNT also holds a stake in tuk-tuk ride sharing, delivery, and microfinance business <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/15\/halan-reaches-10-mn-rides-and-deliveries-plans-expansion-into-other-mena-markets\/\">Halan<\/a>. Back in 2018, GB Capital brought Africa-focused PE firm Development Partners International on board as a partner in MNT through a 33%, USD 45 mn <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/14\/dpi-partners-with-gb-auto-on-mashroey-and-tasaheel\/\">stake sale<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 will bring GB Auto\u2019s stake [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[10045],"tags":[633,241,7128,595,2103],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565466","post","type-post","status-publish","format-standard","hentry","category-speed-round-ma-watch","tag-enterprisepm","tag-gb-auto","tag-ma-watch","tag-non-banking-financial-services","tag-tasaheel","wpautop","entry"],"acf":{"mongo_id":"55bf70dd-17f8-4034-a441-b6a35be1779a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565458],"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>GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel\u2019s MNT 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\/2021\/04\/11\/gb-auto-subsidiary-sells-5-stake-in-mashroey-tasaheels-mnt-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Auto subsidiary sells 5% stake in Mashroey, Tasaheel\u2019s MNT Investments\" \/>\n<meta property=\"og:description\" content=\"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. 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The statement did not specify the number of shares GB Capital is looking to sell, but said it began\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\/3\/19.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564170,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/","url_meta":{"origin":565466,"position":3},"title":"Is this ANFI bidding war finally over?","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"Tycoon to acquire at least 85% of ANFI: Abu Dhabi Islamic Bank Egypt (ADIB) has approved Tycoon Holding\u2019s offer to acquire its stake in Alexandria National Company for Financial Investment (ANFI), the Emirati lender said in an EGX statement (pdf) this morning. ADIB Egypt owns almost 85% of the company,\u2026","rel":"","context":"In &quot;SPEED ROUND: M&amp;A WATCH&quot;","block_context":{"text":"SPEED ROUND: M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/427.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563261,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/24\/egypt-gets-its-own-super-app\/","url_meta":{"origin":565466,"position":4},"title":"Egypt gets its own \u201csuper app\u201d","author":"enterpriseam admin","date":"24 June 2021","format":false,"excerpt":"MNT merges with Halan in share swap: Netherlands-based payments company MNT has entered into a share swap agreement with fintech \/ delivery \/ ride-hailing company Halan, it announced in a statement (pdf) yesterday. The combined entity \u2014 MNT-Halan \u2014 is positioning itself as Egypt\u2019s first \u201csuper app\u201d that will combine\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\/2021\/6\/310.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":565466,"position":5},"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 &quot;Also on our Radar&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565466","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=565466"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565466\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565458"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565466"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565466"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}