{"id":578516,"date":"2023-01-03T03:41:32","date_gmt":"2023-01-03T03:41:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/"},"modified":"2023-01-03T03:41:32","modified_gmt":"2023-01-03T03:41:32","slug":"gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/","title":{"rendered":"GB Auto agrees to sell 45% of its leasing business to Chimera Investments"},"content":{"rendered":"

<\/a> GB Auto approves GB Lease stake sale: <\/strong>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)<\/a>, the company said in an EGX disclosure (pdf)<\/a> yesterday.<\/p>\n

REMEMBER-<\/strong> GB Auto unit GB Capital last month greenlit the transaction<\/a>, which will see it retain the remaining 55% stake in the company. We were expecting the acquisition to wrap up before the end of the year.<\/p>\n

Chimera's offer is generous<\/strong>, as you\u2019d expect it to be in seeking a stake of that size in a large, high-margin business, with Baker Tilly\u2019s fair value study suggesting Chimera\u2019s offer is at a double-digit premium.<\/p>\n

Not their first rodeo: GB and Chimera are already partners <\/strong>after GB Auto sold<\/a> a 7.5% stake in MNT Investments to Chimera in November as part of a larger agreement<\/a> that will see Chimera acquire a 21.7% stake in the Netherlands-based payments company.<\/p>\n

BACKGROUND- <\/strong>Chimera has been in talks<\/a> with GB Auto to acquire the shares since September. GB Capital has been considering a partial sell-down<\/a> in its leasing business for over a year, during which time the company had received offers from several firms.<\/p>\n

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

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 EGX disclosure (pdf) yesterday. REMEMBER- […]<\/p>\n","protected":false},"author":1,"featured_media":578517,"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-578516","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":"7e58c8e4-7278-4cad-bf74-7da1bed3815d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/35.jpg","photo_position":"above","related_issue":[578511],"teaser":"","voice_url":""},"yoast_head":"\nGB Auto agrees to sell 45% of its leasing business 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\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Auto agrees to sell 45% of its leasing business to Chimera Investments\" \/>\n<meta property=\"og:description\" content=\"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 EGX disclosure (pdf) yesterday. 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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":577379,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/gb-auto-okays-mnt-stake-sale-after-accepting-fair-value-study\/","url_meta":{"origin":578516,"position":1},"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":[]},{"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":578516,"position":2},"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":549232,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/the-uaes-chimera-eyes-gb-autos-leasing-arm\/","url_meta":{"origin":578516,"position":3},"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":578516,"position":4},"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":580488,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/this-evening-gb-lease-stake-sale-to-chimera-gets-gb-auto-board-signoff-misr-italia-closes-fresh-securitized-bond-issuance\/","url_meta":{"origin":578516,"position":5},"title":"THIS EVENING: GB Lease stake sale to Chimera gets GB Auto board signoff + Misr Italia closes fresh securitized bond issuance","author":"enterpriseam admin","date":"2 January 2023","format":false,"excerpt":"Good afternoon, ladies and gents. We\u2019re just easing back into the flow of things on the first workday of the new year (and training our brains to write the correct year), but the news cycle here at home is already off to a strong start.THE BIG STORIES TODAY GB Auto\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\/2023\/1\/578.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\/578516","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=578516"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578516\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578517"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578516"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578516"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}