{"id":627507,"date":"2018-06-04T04:06:40","date_gmt":"2018-06-04T04:06:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/abraaj-exited-cira-to-avoid-impact-of-ipo-lockup-on-irr\/"},"modified":"2018-06-04T04:06:40","modified_gmt":"2018-06-04T04:06:40","slug":"abraaj-exited-cira-to-avoid-impact-of-ipo-lockup-on-irr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/abraaj-exited-cira-to-avoid-impact-of-ipo-lockup-on-irr\/","title":{"rendered":"Abraaj exited CIRA to avoid impact of IPO lockup on IRR"},"content":{"rendered":"<p><strong>CLARIFICATION-<\/strong> A friend of ours at the <strong>Abraaj Group<\/strong> passed on this note after our pickup yesterday of news that the private equity outfit had <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/03\/abraaj-sold-35-stake-in-cira-for-more-than-usd-20-mn\/\">exited its stake in education play <strong>CIRA<\/strong><\/a>: \u201cAbraaj invested with the Kalla family in 2014, and after four years and strong performance and growth of CIRA driven primarily by the CEO, Mohamed El Kalla, and the Chairman, Dr. Hassan El Kalla, and their management team, Abraaj exited with a healthy return before any potential IPO so as to avoid IPO-related lockups that would impact the investment IRR.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 CIRA driven primarily by the [&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-627507","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5d862811-3491-4432-8a4c-67b3cf89f694","order":"0","is_powered_by":true,"section_story_id":"68b09fd8-59cf-4920-96ab-ca12c80f74c4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627489],"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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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":626417,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/02\/cira-to-re-list-on-egx-in-october-offer-35-40-of-the-company-in-international-and-domestic-offerings\/","url_meta":{"origin":627507,"position":2},"title":"CIRA to re-list on EGX in October, offer 35-40% of the company in international and domestic offerings","author":"enterpriseam admin","date":"2 July 2018","format":false,"excerpt":"EXCLUSIVE- CIRA relisting to take place in October: Cairo Investment and Real Estate Development (CIRA) will relist shares on the EGX in October, sources close to the transaction told Enterprise over the long weekend. The firm is planning offer new shares equivalent to 35-40% of the company\u2019s equity. Some 80-90%\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":628421,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/03\/seven-companies-chosen-as-part-of-phase-one-development-of-200-ppp-schools\/","url_meta":{"origin":627507,"position":3},"title":"Seven companies chosen as part of phase one development of 200 PPP schools","author":"enterpriseam admin","date":"3 May 2018","format":false,"excerpt":"Seven companies chosen as part of phase one development of 200 PPP schools: Seven Egyptian and Saudi Arabian companies have been tapped to take part in phase one of the government\u2019s program to develop 200 schools under a public-private partnership framework. El Gazeera and the Middle East Education Services Group\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":630599,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/abraaj-exits-cira\/","url_meta":{"origin":627507,"position":4},"title":"Abraaj exits CIRA","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"M&A WATCH- Abraaj exits education company CIRA: Emerging markets private equity giant Abraaj has reportedly sold its 35% stake in CIRA back to the Egyptian education company\u2019s founding shareholders, Al Mal reports. 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":630513,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/abraaj-challenges-could-delay-planned-ipo-or-sale-of-north-african-hospitals\/","url_meta":{"origin":627507,"position":5},"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. 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