{"id":609282,"date":"2023-11-02T00:00:00","date_gmt":"2023-11-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/02\/efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis\/"},"modified":"2023-11-02T00:00:00","modified_gmt":"2023-11-02T00:00:00","slug":"efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/02\/efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis\/","title":{"rendered":"EFG Hermes-backed education firm could enter Saudi market. PLUS: Vortex has so far invested EUR 300 mn in Ignis"},"content":{"rendered":"

EEP eyes expansion in KSA:<\/strong> EFG Hermes-backed Egypt Education Platform<\/a> (EEP) is studying the possibility of launching in Saudi Arabia within the next 12-18 months, co-CEO of EFG Hermes Karim Moussa told Enterprise. The company is looking into rolling out its own homegrown Egyptian brands in the kingdom or acquiring and investing in new brands, Moussa added. \u201cWe see a great opportunity to leverage EEP\u2019s operational know-how in the KSA and generate further income for our operations in Egypt,\u201d he said. \u201cThe kingdom has very ambitious plans for its education sector.\u201d <\/p>\n

Refresher: <\/strong>EEP Is an education management firm that counts EFG Hermes and the Sovereign Fund of Egypt among its anchor investors. It owns a network of schools and nurseries as well as majority stakes in academic content provider Selah El Telmeez and Option Travel, which offers student transportation.<\/p>\n

Local expansion is also on the company\u2019s radar:<\/strong> EEP plans to open two new schools in Cosmic Village in Sixth of October, Moussa confirmed, without disclosing further details.<\/p>\n

MOVES BY<\/strong> EFG HERMES ON THE ENERGY FRONT-<\/strong><\/p>\n

Vortex\u2019s investments in Ignis hit EUR 300 mn mark:<\/strong> EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 300 mn in Spanish renewables developer Ignis Energia<\/a>, said Moussa, who is also the CEO of Vortex. Some EUR 140 mn was injected by the Vortex Energy IV fund, while the other EUR 160 mn was deployed by co-investors managed by the company. When asked about the size of the stake that Vortex has acquired, Moussa said only that it \u201cgives Vortex joint control rights with Ignis\u2019 existing management.\u201d<\/p>\n

Remember:<\/strong> Vortex Energy in 2021 signed an agreement to gradually invest a total of EUR 625<\/a>mn<\/a> in Ignis in exchange for an undisclosed stake in the firm. The company announced in June 2022 that it had deployed some EUR 222 mn<\/a> and it was reported by local media in December of that year that another EUR 46 mn<\/a> was deployed. <\/p>\n

Change of plans:<\/strong> Vortex is currently in talks with Ignis to update its funding plans in light of the changing market conditions, Moussa said. The company has not yet deployed the EUR 176 mn capital injection that was initially penciled in for 1Q 2023.<\/p>\n

Ignis is growing strong: <\/strong>The company has signed almost 1 GW worth of power purchase agreements (PPAs) with blue-chip industrial European and international counterparties in the last year, Moussa said.<\/p>\n","protected":false},"excerpt":{"rendered":"

EEP could roll out its own brands in KSA or acquire and invest in new brands<\/p>\n","protected":false},"author":1,"featured_media":609283,"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":[7272],"tags":[73,84,174,93,72,8663,125,151,219,1589],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-609282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-education","tag-efg-hermes","tag-egypt-education-platform","tag-energy","tag-enterpriseam","tag-ignis-energia","tag-investment-watch","tag-renewables","tag-saudi-arabia","tag-vortex-energy","wpautop","entry"],"acf":{"mongo_id":"d1890753-e50c-4b00-802c-b13c13db54cc","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/72.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EFG Hermes-backed education firm could enter Saudi market. PLUS: Vortex has so far invested EUR 300 mn in Ignis","related_issue":[609270],"teaser":"EEP could roll out its own brands in KSA or acquire and invest in new brands","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.a494e30b-74cd-4eb1-8b37-06d19997b8ee.mp3"},"yoast_head":"\nEFG Hermes-backed education firm could enter Saudi market. PLUS: Vortex has so far invested EUR 300 mn in Ignis - 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\/11\/02\/efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes-backed education firm could enter Saudi market. 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EFG is reportedly looking to purchase 45-49% of the company through a capital increase, an agreement\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\/2021\/10\/24.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555971,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/","url_meta":{"origin":609282,"position":2},"title":"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer","author":"enterpriseam admin","date":"5 October 2021","format":false,"excerpt":"\u200b\u200bEFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia in return for an undisclosed equity stake, the companies said in a joint statement (pdf) yesterday.The investment has handed EFG 49% of Ignis, a source familiar with the matter told Reuters. Spanish\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\/2021\/10\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547087,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/","url_meta":{"origin":609282,"position":3},"title":"EFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"Vortex Energy has made more than a third of its planned EUR 625 mn investment in Ignis Energia: EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release (pdf) yesterday. Vortex plans to eventually\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":666250,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/01\/efg-hermess-sep-partners-with-first-school-management-to-launch-gems-branded-schools-in-ksa-and-bahrain\/","url_meta":{"origin":609282,"position":4},"title":"EFG Hermes's SEP partners with First School Management to launch GEMS-branded schools in KSA and Bahrain","author":"enterpriseam admin","date":"1 June 2025","format":false,"excerpt":"This marks the first intellectual property agreement under FSM's global advisory initiative","rel":"","context":"In "Education"","block_context":{"text":"Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/8.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611921,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/","url_meta":{"origin":609282,"position":5},"title":"EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund","author":"enterpriseam admin","date":"14 December 2023","format":false,"excerpt":"The close could wrap up before the year\u2019s end, bringing the fund\u2019s total size to over USD 500 mn","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"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\/609282","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=609282"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/609282\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/609270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/609283"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=609282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=609282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=609282"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=609282"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=609282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}