{"id":581537,"date":"2023-02-15T00:00:00","date_gmt":"2023-02-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others\/"},"modified":"2023-02-15T00:00:00","modified_gmt":"2023-02-15T00:00:00","slug":"ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/ripplewood-flips-big-part-of-its-efg-hermes-stake-to-chimera-others\/","title":{"rendered":"Ripplewood flips big part of its EFG Hermes stake to Chimera, others"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">EFG Hermes\u2019 second-largest shareholder, Tim Collins\u2019 <\/span><span style=\"font-weight:700\">Ripplewood<\/span><span style=\"font-weight:700\">, has sold two thirds <\/span><span style=\"font-weight:700\">of its position <\/span><span>in a series of block transactions on the EGX on Monday, according to trading data out yesterday. <\/span><span style=\"\">Units<\/span><span> of the US-based <\/span><span style=\"\">investment firm<\/span><span> sold almost 92 mn shares at an <\/span><span>average price of EGP 19.32 per share<\/span><span>, taking home EGP 1.77 bn, EFG Hermes said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/RA-Firms-EGX-disclosure.pdf\" style=\"\">a disclosure (pdf)<\/a><\/span><span>. This reduced Ripplewood\u2019s holdings from <\/span><span>11.7%<\/span><span> to <\/span><span>3.9%<\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Who\u2019s Ripplewood? <\/span><span style=\"\">Collins and Ripplewood are long-time investors in Egypt and hold or have previously held shares in blue chip names including SOIDC, PHD, CIB and Edita alongside EFG Hermes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The new shareholders #1: <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.chimerainvestment.com\/Website\/en\/about-us.html\" style=\"\">Chimera Investments<\/a><\/span><span style=\"font-weight:700\">. <\/span><span>Abu Dhabi-based investment firm Chimera <\/span><span>purchased a 2.62% stake in EFG Hermes via its newly-acquired local financial services firm, Beltone Financial. The firm purchased more than 30.5 mn shares for EGP 590.6 mn, Beltone said in an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Beltone-EGX-disclosure.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The latest addition to Chimera\u2019s growing Egypt portfolio:<\/span><span> <\/span><span>Chimera, part of<\/span><span> Sheikh Tahnoon bin Zayed\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.royalgroupuae.com\/\" style=\"\">Royal Group<\/a><\/span><span>, has made a string of investments in Egypt over the past 12 months, most recently <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/02\/mnt-halan-on-its-way-to-unicorn-status-with-major-chimera-investment-95288\/\" style=\"\">investing USD 200 mn<\/a><\/span><span> in local super-app MNT-Halan. It also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/22\/gb-capital-sells-a-45-stake-in-gb-lease-to-chimera-investments-94052\/\" style=\"\">acquired 45%<\/a><\/span><span style=\"font-weight:400;\"> of NBFS outfit GB Lease.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The new shareholders #2: <\/span><span style=\"font-weight:700\">JS Holding Ltd<\/span><span style=\"font-weight:700\">:<\/span><span style=\"font-weight:700\"> <\/span><span>The company<\/span><span> purchased a 5.25% stake \u2014 or 61.3 mn shares \u2014 for nearly EGP 1.2 bn, according to an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/JS-Holding-Ltd-EFG-purchase.pdf\" style=\"\">EGX disclosure (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The transaction was executed by EFG Securities Brokerage Company. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EFG Hermes shares closed up 1% yesterday <\/span><span style=\"font-weight:400;\">at EGP 20.00 apiece. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Collins and Ripplewood are long-time investors in Egypt<\/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":[7363],"tags":[204,812,2078,84,72,503,125,7128,6689],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581537","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-banking","tag-beltone-financial","tag-chimera-investments","tag-efg-hermes","tag-enterpriseam","tag-financial-services","tag-investment-watch","tag-ma-watch","tag-ripplewood","wpautop","entry"],"acf":{"mongo_id":"71b9d371-5199-4337-ac05-643cb6cf3ff2","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581530],"teaser":"Collins and Ripplewood are long-time investors in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.f63b6e11-b81a-48a7-bceb-cd30c5b1cb82.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Sodic appears to have made the hire last week to assess the value offered by the Emirati real estate firm. Sodic\u2019s\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\/4\/432.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583259,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/this-evening-adnoc-now-owns-half-of-totalenergies-sturgeon-is-out\/","url_meta":{"origin":581537,"position":1},"title":"THIS EVENING: Adnoc now owns half of TotalEnergies + Sturgeon is out","author":"enterpriseam admin","date":"15 February 2023","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s a busy Wednesday afternoon, with a pipeline of news to keep you busy as we count down to the weekend. THE BIG STORY TODAY Adnoc Distribution now owns half of one of Egypt\u2019s largest fuel retailers: Adnoc Distribution, the distribution arm of UAE\u2019s state oil\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","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\/internal\/wp-content\/uploads\/2021\/08\/agreement-1600px-e1633354302226.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548486,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/10\/efg-hermes-signs-egp-750-mn-sale-leaseback-agreement-with-marakez\/","url_meta":{"origin":581537,"position":2},"title":"EFG Hermes signs EGP 750 mn sale + leaseback agreement with Marakez","author":"enterpriseam admin","date":"10 August 2022","format":false,"excerpt":"EFG Hermes\u2019 leasing and factoring arm has signed an EGP 750 mn sale and leaseback agreement with real estate developer Marakez to refinance the Mall of Arabia in Sixth of October, EFG Hermes announced in a statement (pdf). The two-tranche transaction is part of a wider EGP 2.25 bn financing\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/202.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553944,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/efg-hermes-subsidiary-closes-third-tranche-of-its-bond-program\/","url_meta":{"origin":581537,"position":3},"title":"EFG Hermes subsidiary closes third tranche of its bond program","author":"enterpriseam admin","date":"14 December 2021","format":false,"excerpt":"Hermes Securities Brokerage (HSB) has closed a EGP 550 mn securitized bond issuance managed by EFG Hermes, according to a company statement(pdf). This is the third tranche in the brokerage\u2019s EGP 2 bn two-year program, and the first it has issued this year. The one-year securities were rated BBB+ with\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-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":576396,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/efg-hermes-sfe-to-complete-due-diligence-on-aib-in-february-sources\/","url_meta":{"origin":581537,"position":4},"title":"EFG Hermes, SFE to complete due diligence on AIB in February -sources","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"M&A WATCH- EFG Hermes and the Sovereign Fund of Egypt (SFE) will complete due diligence on the Arab Investment Bank (AIB) by February 2021 ahead of a potential acquisition of a 76% stake in the state-owned bank, Masrawy reports, citing unnamed banking sources familiar with the matter. SFE CEO Ayman\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556049,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/10\/efg-hermes-sfe-get-cabinet-signoff-on-arab-investment-bank-acquisition\/","url_meta":{"origin":581537,"position":5},"title":"EFG Hermes, SFE get cabinet signoff on Arab Investment Bank acquisition","author":"enterpriseam admin","date":"10 October 2021","format":false,"excerpt":"M&A WATCH- EFG Hermes and the Sovereign Fund of Egypt have received cabinet approval for their acquisition of a 76% stake in the Arab Investment Bank (AIB), according to a decision published in the Official Gazette and picked up by the domestic press. The two institutions acquired the shares via\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\/10\/103.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\/581537","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=581537"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581537\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581530"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581537"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581537"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}