{"id":596771,"date":"2019-07-08T04:00:34","date_gmt":"2019-07-08T04:00:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/"},"modified":"2019-07-08T04:00:34","modified_gmt":"2019-07-08T04:00:34","slug":"actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/","title":{"rendered":"Actis gets approval to take over management of CHG\u2019s majority shareholder"},"content":{"rendered":"

<\/a> M&A WATCH- Actis gets regulatory approval to manage Cleopatra Hospital\u2019s majority shareholder:<\/b> EM private equity fund Actis<\/a> received approval from the Financial Regulatory Authority (FRA) to take over the management of Creed Healthcare Holdco from now-defunct EM private equity giant Abraaj, Al Mal reported<\/a>, citing unnamed sources. Creed Healthcare, also known as North Africa Hospital Holdings, owns a 69% stake in Cleopatra Hospital Group<\/a> (CHG). The sources said that Actis\u2019 takeover will not change the ownership structure<\/a> of CHG.<\/p>\n

No impact from ongoing criminal investigations into Abraaj officials: <\/b>Actis was also given approval to manage another fund that was previously managed by Abraaj, sources said. The management change will not be impacted by ongoing investigations and court cases of previous Abraaj officials, the sources said.<\/p>\n

Background:<\/b> Abraaj was the largest EM private equity firm in the world before it collapsed last year amid concerns that funds were being misused. Executives Mustafa Abdel-Wadood and Arif Naqvi were arrested in April<\/a> and released on bail the following month, and Abdel-Wadood pled guilty to racketeering and fraud charges earlier this month<\/a>. Bloomberg reported last week<\/a> that Actis received the support of 75% of investors, allowing it to take over the USD 1.6 bn Abraaj Private Equity Fund IV and the USD 990 mn Africa Fund III. Actis had reportedly made an offer last September<\/a> to acquire \u201cthe bulk\u201d of Abraaj\u2019s EM funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Actis gets regulatory approval to manage Cleopatra Hospital\u2019s majority shareholder: EM private equity fund Actis received approval from the Financial Regulatory Authority (FRA) to take over the management of Creed Healthcare Holdco from now-defunct EM private equity giant Abraaj, Al Mal reported, citing unnamed sources. Creed Healthcare, also known as North Africa Hospital […]<\/p>\n","protected":false},"author":1,"featured_media":596772,"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":[8572],"tags":[4991,922,192,72,7128,758,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-abraaj","tag-actis","tag-cleopatra-hospitals-group","tag-enterpriseam","tag-ma-watch","tag-private-equity","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5cd9b825-ee25-4e86-9072-f00b47305ec2","is_powered_by":true,"section_story_id":"1c514aaa-97b8-4ebb-8bdf-f6937134abbc","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/1552.jpg","photo_position":"above","related_issue":[596764],"teaser":"","voice_url":""},"yoast_head":"\nActis gets approval to take over management of CHG\u2019s majority shareholder - 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\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Actis gets approval to take over management of CHG\u2019s majority shareholder\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Actis gets regulatory approval to manage Cleopatra Hospital\u2019s majority shareholder: EM private equity fund Actis received approval from the Financial Regulatory Authority (FRA) to take over the management of Creed Healthcare Holdco from now-defunct EM private equity giant Abraaj, Al Mal reported, citing unnamed sources. Creed Healthcare, also known as North Africa Hospital […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-08T04:00:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1552.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Actis gets approval to take over management of CHG\u2019s majority shareholder\",\"datePublished\":\"2019-07-08T04:00:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\"},\"wordCount\":240,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1552.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abraaj\",\"Actis\",\"Cleopatra Hospitals Group\",\"EnterpriseAM\",\"M&A Watch\",\"private equity\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/actis-gets-approval-to-take-over-management-of-chgs-majority-shareholder\/\",\"name\":\"Actis gets approval to take over management of CHG\u2019s majority shareholder - 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The company \u201chas not been informed of any change in shareholding structure, company directors or\u2026","rel":"","context":"In "Speed Round"","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":596957,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/care-healthcare-divests-31-5-stake-in-cleopatra-hospitals\/","url_meta":{"origin":596771,"position":1},"title":"Care Healthcare divests 31.5% stake in Cleopatra Hospitals","author":"enterpriseam admin","date":"14 July 2019","format":false,"excerpt":"M&A WATCH- Care Healthcare divests 31.5% stake in Cleopatra Hospitals: Care Healthcare sold a 31.5% stake in Cleopatra Hospital Group on Wednesday, Cleopatra said in a bourse filing on Thursday (pdf). Care Healthcare, which prior to the transaction held a commanding 69.4% stake in Cleopatra, sold 503 mn shares at\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2893.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597086,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/its-official-actis-takes-over-management-of-apef-iv-and-aaf-iii-funds-from-abraaj\/","url_meta":{"origin":596771,"position":2},"title":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj: Emerging markets private equity giant Actis has officially taken over the management of the Abraaj Private Equity Fund IV (APEF IV) and Abraaj Africa fund III (AAF III) in a landmark transaction for PE\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/367.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595042,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/correction-actis-takeover-of-abraaj-africa-fund-ii-has-no-connection-with-cleopatra\/","url_meta":{"origin":596771,"position":3},"title":"CORRECTION- Actis takeover of Abraaj Africa Fund II has no connection with Cleopatra","author":"enterpriseam admin","date":"15 September 2019","format":false,"excerpt":"CORRECTION- Actis takeover of Abraaj Africa Fund II has no connection with Cleopatra: Private equity firm Actis\u2019 takeover of Abraaj Africa Fund II and Abraaj South East Asia Fund II last week will not impact the shareholder structure of Cleopatra Hospitals Group, as neither fund holds a stake in the\u2026","rel":"","context":"In "Speed Round"","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":594966,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/12\/actis-takes-over-two-more-abraaj-buyout-funds-in-africa-and-southeast-asia\/","url_meta":{"origin":596771,"position":4},"title":"Actis takes over two more Abraaj buyout funds in Africa and Southeast Asia","author":"enterpriseam admin","date":"12 September 2019","format":false,"excerpt":"Actis takes over two more Abraaj buyout funds: Actis has reached an agreement to take over the management of two more buyout funds raised by defunct private equity giant Abraaj, according to the Wall Street Journal. A document written by Abraaj\u2019s liquidators shows that the firm was removed from managing\u2026","rel":"","context":"In "Speed Round"","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":602671,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds\/","url_meta":{"origin":596771,"position":5},"title":"Abraaj LPs vote to give Actis the right to manage defunct firm\u2019s sub-Saharan Africa, Asia funds","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"M&A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm\u2019s sub-Saharan Africa and Asia funds, unidentified sources tell Al Mal. The vote is not the final step in handing over the funds, which remains contingent on a\u2026","rel":"","context":"In "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596771","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=596771"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596771\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596772"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596771"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596771"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}