{"id":599365,"date":"2019-06-26T04:00:18","date_gmt":"2019-06-26T04:00:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/"},"modified":"2019-06-26T04:00:18","modified_gmt":"2019-06-26T04:00:18","slug":"egypts-cira-to-acquire-60-of-the-uaes-starlight-education","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/","title":{"rendered":"Egypt\u2019s CIRA to acquire 60% of the UAE\u2019s Starlight Education"},"content":{"rendered":"

<\/a> M&A WATCH- CIRA to acquire 60% of the UAE\u2019s Starlight Education:<\/b> Leading private-sector education provider Cairo for Real Estate and Investment (CIRA<\/a>) is acquiring 60% of UAE-based Starlight Education<\/a>, which indirectly owns British Columbia Canadian International School (BCCIS) in Shorouk City, CIRA said in a statement (pdf)<\/a>. The transaction will add BCCIS to CIRA\u2019s portfolio of K-12 international school brands<\/a>. \u201c[The acquisition] doesn\u2019t only signify CIRA\u2019s belief in BCCIS as a school and a brand, but also our commitment to grow the K-12 portfolio in parallel with the robust expansion in higher-ed,\u201d CEO Mohamed El Kalla said.<\/p>\n

CIRA will set up a new arm to manage international schools<\/b> in partnership with the Mostafa family, which founded BCCIS. The new company will expand its business by setting up two new German and French schools to cater to upper-middle income families, the statement adds.<\/p>\n

Growth strategy: <\/b>El Kalla said earlier this year<\/a> that the company will continue focusing on a growth strategy that centers on differentiation to \u201ccement the presence of its brand.\u201d The company raised EGP 1.24 bn when it made its EGX debut late last year<\/a>. It was planning to use the proceeds to push forward with its growth plans.<\/p>\n

Advisors: <\/b>Our friends at Arab Legal Consultants (ALC)<\/a> were legal counsel to existing shareholders who together sold a substantial stake in Starlight. Zulficar and Partners acted as legal advisors to CIRA, while Tamimi were advisors to the company. Fincorp was the appointed IFA.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- CIRA to acquire 60% of the UAE\u2019s Starlight Education: Leading private-sector education provider Cairo for Real Estate and Investment (CIRA) is acquiring 60% of UAE-based Starlight Education, which indirectly owns British Columbia Canadian International School (BCCIS) in Shorouk City, CIRA said in a statement (pdf). The transaction will add BCCIS to CIRA\u2019s portfolio […]<\/p>\n","protected":false},"author":1,"featured_media":599366,"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":[7097,73,72,125,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-development","tag-education","tag-enterpriseam","tag-investment-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5c7373a3-f5e7-4cb3-92af-4e323acc432e","is_powered_by":true,"section_story_id":"9498d53f-aa9d-4349-84b1-c074c7b554c2","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/1847.jpg","photo_position":"above","related_issue":[599358],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s CIRA to acquire 60% of the UAE\u2019s Starlight Education - 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\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s CIRA to acquire 60% of the UAE\u2019s Starlight Education\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- CIRA to acquire 60% of the UAE\u2019s Starlight Education: Leading private-sector education provider Cairo for Real Estate and Investment (CIRA) is acquiring 60% of UAE-based Starlight Education, which indirectly owns British Columbia Canadian International School (BCCIS) in Shorouk City, CIRA said in a statement (pdf). The transaction will add BCCIS to CIRA\u2019s portfolio […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-26T04:00:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1847.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\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s CIRA to acquire 60% of the UAE\u2019s Starlight Education\",\"datePublished\":\"2019-06-26T04:00:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\"},\"wordCount\":256,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1847.jpg?fit=%2C&ssl=1\",\"keywords\":[\"development\",\"Education\",\"EnterpriseAM\",\"investment watch\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/06\/26\/egypts-cira-to-acquire-60-of-the-uaes-starlight-education\/\",\"name\":\"Egypt\u2019s CIRA to acquire 60% of the UAE\u2019s Starlight Education - 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MIH plans to partner with as of yet unnamed education operators, and a private equity firm on the new\u2026","rel":"","context":"In "SPEED ROUND: EDUCATION"","block_context":{"text":"SPEED ROUND: EDUCATION","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/464.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569831,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/cira-ode-sign-agreement-to-establish-international-schools-in-o-west\/","url_meta":{"origin":599365,"position":1},"title":"CIRA, ODE sign agreement to establish international schools in O West","author":"enterpriseam admin","date":"9 March 2020","format":false,"excerpt":"CIRA, ODE sign agreement to establish two int\u2019l schools in O West: Cairo for Investment and Real Estate Development (CIRA) and OrascomDevelopment Egypt (ODE) have signed a cooperation agreement to establish branches of two international schools in the O West development complex in Sixth of October, ODE said in 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":[]},{"id":594700,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/cira-acquires-majority-stake-in-bccis-for-up-to-egp-100-mn\/","url_meta":{"origin":599365,"position":2},"title":"CIRA acquires majority stake in BCCIS for up to EGP 100 mn","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Leading private sector education provider Cairo for Real Estate and Investment (CIRA) has agreed to acquire a majority stake in the British Columbia Canadian International School (BCCIS) through the acquisition of a 60% stake in its parent company, Star Light Educational DMCC Corporation, it said in an EGX disclosure (pdf).\u2026","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597205,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/cira-reports-51-y-o-y-growth-in-net-profits-in-the-first-nine-months-of-its-fiscal-year\/","url_meta":{"origin":599365,"position":3},"title":"CIRA reports 51% y-o-y growth in net profits in the first nine months of its fiscal year","author":"enterpriseam admin","date":"18 July 2019","format":false,"excerpt":"EARNINGS WATCH- Cairo for Real Estate and Investment (CIRA) reported a 51% y-o-y increase in net profit to EGP 249.8 mn in the first nine months of its fiscal year, which ended 31 May 2019, according to the company\u2019s earnings release (pdf). Revenues rose 32% y-o-y during the period, coming\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":563769,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/cira-net-income-up-40-in-9m-2020-2021\/","url_meta":{"origin":599365,"position":4},"title":"CIRA net income up 40% in 9M 2020-2021","author":"enterpriseam admin","date":"15 July 2021","format":false,"excerpt":"Private sector education outfit CIRA\u2019s net income rose 40% to EGP 462.1 mn in the first nine months of its fiscal year, which ends on 31 August, according to the company\u2019s earnings release (pdf). Revenues during the period climbed to EGP 1.3 bn, up 28% y-o-y from last year. Top\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-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":591520,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/09\/cira-plans-egp-2-bn-in-new-investment-fresh-securitization-program\/","url_meta":{"origin":599365,"position":5},"title":"CIRA plans EGP 2 bn in new investment, fresh securitization program","author":"enterpriseam admin","date":"9 December 2019","format":false,"excerpt":"INVESTMENT WATCH- CIRA plans EGP 2 bn in new investment, fresh securitization program: EGX-listed education business CIRA will invest more than EGP 2 bn to develop several ongoing and future projects and will turn to a securitized bond issuance as part of its financing plans, CEO Mohamed El Kalla tells\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\/12\/329.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\/599365","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=599365"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599365\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599366"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599365"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599365"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}