{"id":627445,"date":"2018-06-03T04:03:28","date_gmt":"2018-06-03T04:03:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/abraaj-sold-35-stake-in-cira-for-more-than-usd-20-mn\/"},"modified":"2018-06-03T04:03:28","modified_gmt":"2018-06-03T04:03:28","slug":"abraaj-sold-35-stake-in-cira-for-more-than-usd-20-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/abraaj-sold-35-stake-in-cira-for-more-than-usd-20-mn\/","title":{"rendered":"Abraaj sold 35% stake in CIRA for more than USD 20 mn"},"content":{"rendered":"<p><strong>INVESTMENT WATCH- Abraaj sold 35% stake in CIRA for more than USD 20 mn: <\/strong>Abraaj Capital reportedly sold last week its 35% stake in education outfit Cairo for Investment & Real Estate Development (CIRA) back to its founding shareholders \u2014 the family of Hassan El Kalla \u2014 in a transaction valued at over USD 20 mn, <a href=\"https:\/\/alborsanews.com\/2018\/05\/31\/1108440\">sources close to the matter said<\/a>. We had <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/26\/abraaj-exits-cira\/\">noted reports back in April<\/a> that Abraaj selling its investment in CIRA to Social Impact Capital Ltd \u2014 a vehicle belonging to the Kalla family \u2014 ostensibly to lighten the PE giant\u2019s global footprint following allegations that it misused funds from a USD 1 bn healthcare fund. The founding shareholders\u2019 buyback comes as CIRA eyes a potential IPO as early as 4Q2018.<\/p>\n<p><strong>Advisers: EFG Hermes<\/strong> and <strong>Al Tamimi Law<\/strong> were reportedly buy-side advisors, while Abraaj tapped the UK\u2019s <strong>Allen & Overy<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT WATCH- Abraaj sold 35% stake in CIRA for more than USD 20 mn: Abraaj Capital reportedly sold last week its 35% stake in education outfit Cairo for Investment &#038; Real Estate Development (CIRA) back to its founding shareholders \u2014 the family of Hassan El Kalla \u2014 in a transaction valued at over USD 20 [&hellip;]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627445","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3e085e55-7b22-404c-b671-e7e179783fc4","order":"0","is_powered_by":true,"section_story_id":"6e896c70-cd9d-44a7-ba50-822f5109a9e4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627431],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The stake was bought by Social Impact Capital Ltd, a vehicle belonging to the family of Hassan El\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":627507,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/abraaj-exited-cira-to-avoid-impact-of-ipo-lockup-on-irr\/","url_meta":{"origin":627445,"position":1},"title":"Abraaj exited CIRA to avoid impact of IPO lockup on IRR","author":"enterpriseam admin","date":"4 June 2018","format":false,"excerpt":"CLARIFICATION- A friend of ours at the Abraaj Group passed on this note after our pickup yesterday of news that the private equity outfit had exited its stake in education play CIRA: \u201cAbraaj invested with the Kalla family in 2014, and after four years and strong performance and growth of\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":630513,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/abraaj-challenges-could-delay-planned-ipo-or-sale-of-north-african-hospitals\/","url_meta":{"origin":627445,"position":2},"title":"Abraaj challenges could delay planned IPO or sale of North African hospitals","author":"enterpriseam admin","date":"23 April 2018","format":false,"excerpt":"Abraaj\u2019s challenges could push it to delay the IPO or sale of its North African hospitals business, people with knowledge of the matter told Bloomberg on Sunday. The Dubai-based emerging markets private equity giant will delay the sale, which was originally planned for 1H2018, until October, sources added. Abraaj, which\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":630705,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/will-cira-relist-on-the-egx-in-4q2018\/","url_meta":{"origin":627445,"position":3},"title":"Will CIRA relist on the EGX in 4Q2018?","author":"enterpriseam admin","date":"30 April 2018","format":false,"excerpt":"IPO WATCH- Will CIRA relist on the EGX in 4Q2018? Cairo Investment and Real Estate Development (CIRA), has reportedly begun taking steps to relist on the EGX, with a preliminary date set for 4Q2018, sources said. The company, which holds majority stakes in 24 K-12 schools, is reportedly looking to\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":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":627445,"position":4},"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 &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\/2019\/7\/367.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597591,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/dubai-financial-regulator-fines-abraaj-usd-314-6-mn-for-serious-wrongdoing\/","url_meta":{"origin":627445,"position":5},"title":"Dubai financial regulator fines Abraaj USD 314.6 mn for \u201cserious wrongdoing\u201d","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"Dubai financial regulator hands record USD 314.6 mn fine to Abraaj for \u201cserious wrongdoing\u201d: Former private equity giant Abraaj has been fined a record USD 314.6 mn by Dubai\u2019s financial regulator, the Wall Street Journal reports. 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