{"id":578230,"date":"2022-12-20T04:00:13","date_gmt":"2022-12-20T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/20\/abu-dhabis-chimera-investments-to-acquire-45-of-gb-lease\/"},"modified":"2022-12-20T04:00:13","modified_gmt":"2022-12-20T04:00:13","slug":"abu-dhabis-chimera-investments-to-acquire-45-of-gb-lease","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/20\/abu-dhabis-chimera-investments-to-acquire-45-of-gb-lease\/","title":{"rendered":"Abu Dhabi\u2019s Chimera Investments to acquire 45% of GB Lease"},"content":{"rendered":"

<\/a> Chimera to acquire 45% of GB Lease: <\/strong>GB Capital has agreed to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, parent company GB Auto said in an EGX disclosure (pdf)<\/a> yesterday. GB Capital will retain the remaining 55% stake in the company, which the transaction values at EGP 1.9 bn, according to our math.<\/p>\n

A 2022 close?<\/strong> The acquisition is expected to close before the end of the year, GB Auto IR head Marina Kamal told us.<\/p>\n

We knew this was coming: <\/strong>Chimera and GB Capital have been in talks<\/a> over the acquisition since September. The GB Auto subsidiary has been mulling the partial selldown<\/a> of its leasing business for over a year, during which time the company had received offers from several firms.<\/p>\n

It\u2019s not final yet: <\/strong>The transaction is still pending board approval at GB Auto, the company said in a separate disclosure (pdf)<\/a>. The company has tapped Baker Tilly for an independent assessment to determine the fair value of GB Lease\u2019s shares, the disclosure said. The board will then decide whether the value the companies have agreed on is appropriate, Kamal told us.<\/p>\n

This isn\u2019t GB Auto and Chimera\u2019s first tie-up:<\/strong> GB Auto sold<\/a> a 7.5% stake in MNT Investments to Chimera last week as part of a larger agreement<\/a> that will see Chimera acquire a 21.7% stake in the Netherlands-based payments company. The remaining 14.2% is being sold by other unnamed investors in MNT.<\/p>\n

Chimera likes our NBFS sector: <\/strong>The Abu Dhabi-based investment firm also acquired a 56% stake in Beltone Financial<\/a> in August for around EGP 384.8 mn, with Orascom Financial Holding divesting all of its 259.1 mn shares<\/a>.<\/p>\n

Advisors: <\/strong>Arqaam Capital is acting as the sell-side advisor to GB Capital and Matouk Bassiouny & Hennawy is the sell-side legal advisor, while Adsero-Ragy Soliman and Partners are buy-side counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chimera to acquire 45% of GB Lease: GB Capital has agreed to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, parent company GB Auto said in an EGX disclosure (pdf) yesterday. GB Capital will retain the remaining 55% stake in the company, […]<\/p>\n","protected":false},"author":1,"featured_media":578231,"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":[2078,72,241,243,242,7128,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-chimera-investments","tag-enterpriseam","tag-gb-auto","tag-gb-lease","tag-leasing","tag-ma-watch","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"148c0cd3-7e12-4e7a-86bf-24b8540f2621","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/418.jpg","photo_position":"above","related_issue":[578225],"teaser":"","voice_url":""},"yoast_head":"\nAbu Dhabi\u2019s Chimera Investments to acquire 45% of GB Lease - 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\/12\/20\/abu-dhabis-chimera-investments-to-acquire-45-of-gb-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abu Dhabi\u2019s Chimera Investments to acquire 45% of GB Lease\" \/>\n<meta property=\"og:description\" content=\"Chimera to acquire 45% of GB Lease: GB Capital has agreed to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, parent company GB Auto said in an EGX disclosure (pdf) yesterday. 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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":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":578230,"position":1},"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":[]},{"id":549232,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/the-uaes-chimera-eyes-gb-autos-leasing-arm\/","url_meta":{"origin":578230,"position":2},"title":"The UAE\u2019s Chimera eyes GB Auto\u2019s leasing arm","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Chimera to take stake in GB Lease? GB Auto subsidiary GB Capital is in talks with our friends at Abu Dhabi-based investment firm Chimera Investments to sell a 45% stake in its leasing arm, GB Lease, the EGX-listed automotive and finance player said yesterday in a regulatory filing (pdf). GB\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\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550468,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/mnt-agrees-to-sell-21-7-stake-to-chimera-investments\/","url_meta":{"origin":578230,"position":3},"title":"MNT agrees to sell 21.7% stake to Chimera Investments","author":"enterpriseam admin","date":"30 October 2022","format":false,"excerpt":"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%\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\/10\/370.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580307,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/19\/this-evening-chimera-is-acquiring-45-of-gb-lease-twitter-users-really-dont-want-musk-to-stick-around\/","url_meta":{"origin":578230,"position":4},"title":"THIS EVENING: Chimera is acquiring 45% of GB Lease + Twitter users really don\u2019t want Musk to stick around","author":"enterpriseam admin","date":"19 December 2022","format":false,"excerpt":"Good afternoon, friends. It appears we\u2019re still some ways away from that end-of-year news slowdown, even though the number of OOO auto-responders we\u2019re getting in our inbox keeps rising by the day.*** Would the real Enterprise Fantasy World Cup winner please stand up? We\u2019re ready to announce the top finisher\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/742.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577379,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/gb-auto-okays-mnt-stake-sale-after-accepting-fair-value-study\/","url_meta":{"origin":578230,"position":5},"title":"GB Auto okays MNT stake sale after accepting fair value study","author":"enterpriseam admin","date":"21 November 2022","format":false,"excerpt":"GB Auto approves MNT stake sale: GB Auto\u2019s board has greenlit plans to sell a 7.5% stake in MNT Investments to Abu Dhabi-based investment firm Chimera Investments after approving the results of a fair value study (pdf), it said in an EGX disclosure (pdf) yesterday.ICYMI- The Netherlands-incorporated fintech \u2014 majority-owned\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\/11\/319.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\/578230","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=578230"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578230\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578231"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578230"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578230"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}