{"id":629363,"date":"2018-05-29T03:41:27","date_gmt":"2018-05-29T03:41:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/efg-acquires-four-schools-in-egp-1-bn-transaction-from-tmg-gems-tapped-as-operator\/"},"modified":"2018-05-29T03:41:27","modified_gmt":"2018-05-29T03:41:27","slug":"efg-acquires-four-schools-in-egp-1-bn-transaction-from-tmg-gems-tapped-as-operator","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/29\/efg-acquires-four-schools-in-egp-1-bn-transaction-from-tmg-gems-tapped-as-operator\/","title":{"rendered":"EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator"},"content":{"rendered":"<p><a id=\"tldr-story-02\" class=\"content-anchor\"><\/a> <strong>INVESTMENT WATCH- EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator: <\/strong>EFG Hermes acquired four national and British schools in Cairo's suburbs from the Talaat Moustafa Group (TMG)\u00a0in a transaction worth EGP 1 bn (USD 56 mn), <a href=\"http:\/\/egx.com.eg\/downloads\/Bulletins\/217452_1.PDF\">according to a regulatory filing (pdf)<\/a>. Under the agreement, EFG Hermes\u2019 merchant banking arm will provide capital for the project. The schools, which are located in TMG developments Rehab City and Madinaty, will be managed by Dubai-based operator <a href=\"http:\/\/www.gemseducation.com\/\">GEMS Education<\/a>, which recently entered a JV with EFG Hermes.<\/p>\n<p><strong>Background: <\/strong>EFG had <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/21\/efg-gems-partner-up-on-new-k-12-education-platform-in-egypt\/\">announced last week<\/a> that it was forming a 50\/50 JV with GEMS to set up a new K-12 education platform in Egypt that would be funded by GEMS and an investment vehicle managed by EFG\u2019s private equity division. The TMG transaction is part of the platform\u2019s drive to <strong>invest c. USD 300 mn in Egypt\u2019s education sector over the next five years.<\/strong> The company plans to acquire more than 30 schools and enroll as many as 40,000 students in them within that time frame, Private Equity Head Karim Moussa said yesterday, <a href=\"https:\/\/ara.reuters.com\/article\/businessNews\/idARAKCN1IT0TF\">Reuters\u2019 Arabic service reports<\/a>.<\/p>\n<p><strong>GEMS as well has more in store for education in Egypt. <\/strong>The agreement with EFG Hermes and TMG is only a \u201cfirst step\u201d for the UAE company, which is open to other partnerships and investment opportunities in the country, board member Zulfe Ali <a href=\"http:\/\/www.almalnews.com\/Story\/377356\/11\/-%D8%AC%D9%8A%D9%85%D8%B3--%D8%A7%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85%D9%8A%D8%A9-%D8%AA%D8%AE%D8%B7%D8%B7-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%89-%D9%85%D8%AF%D8%A7%D8%B1%D8%B3-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AE%D9%84%D8%A7%D9%84-6-%D8%A3%D8%B4%D9%87%D8%B1\">tells Al Mal<\/a>. GEMS should have more clarity on its Egypt strategy in six months\u2019 time, he adds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT WATCH- EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator: EFG Hermes acquired four national and British schools in Cairo's suburbs from the Talaat Moustafa Group (TMG)\u00a0in a transaction worth EGP 1 bn (USD 56 mn), according to a regulatory filing (pdf). Under the agreement, EFG Hermes\u2019 merchant [&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-629363","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7139c152-924f-4a60-8206-00198ed654da","order":"0","is_powered_by":true,"section_story_id":"7733a2f0-76d0-4c8a-ab2e-d8ac16e3ff29","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629355],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator - 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\/2018\/05\/29\/efg-acquires-four-schools-in-egp-1-bn-transaction-from-tmg-gems-tapped-as-operator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- EFG acquires four schools in EGP 1 bn transaction from TMG, GEMS tapped as operator: EFG Hermes acquired four national and British schools in Cairo&#039;s suburbs from the Talaat Moustafa Group (TMG)\u00a0in a transaction worth EGP 1 bn (USD 56 mn), according to a regulatory filing (pdf). 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The schools, two of which run the British\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":590648,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/30\/efg-gems-jv-acquires-majority-stake-in-egypts-option-travel\/","url_meta":{"origin":629363,"position":1},"title":"EFG, GEMS JV acquires majority stake in Egypt\u2019s Option Travel","author":"enterpriseam admin","date":"30 December 2019","format":false,"excerpt":"M&A WATCH- EFG, GEMS JV acquires majority stake in Egypt\u2019s Option Travel: GEMS Egypt for Education Services, a joint fund between EFG Hermes\u2019 Egypt Education Fund and Gems Education, has completed the acquisition of a majority stake in leading transportation provider Option Travel, EFG said in a press release (pdf).\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":573795,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/gems-to-invest-egp-1-bn-to-add-four-schools-to-its-egypt-portfolio\/","url_meta":{"origin":629363,"position":2},"title":"GEMS to invest EGP 1 bn to add four schools to its Egypt portfolio","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"INVESTMENT WATCH- GEMS to invest EGP 1 bn to add four schools to its Egypt portfolio: Private-sector education provider GEMS has earmarked EGP 1 bn to build two new schools and to purchase two existing facilities over the coming year, GEMS CEO Ahmed Wahby announced at a presser yesterday 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":591977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-planning-egp-1-bn-sukuk-issuance-for-egypts-tmg\/","url_meta":{"origin":629363,"position":3},"title":"EFG planning EGP 1 bn sukuk issuance for Egypt\u2019s TMG","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"DEBT WATCH- EFG Hermes planning EGP 1 bn sukuk issuance for TMG? EFG Hermes will reportedly be leading a sukuk issuance worth over EGP 1 bn for Talaat Moustafa Group (TMG) as soon as it acquires a license that it has requested from the Financial Regulatory Authority (FRA), Al Mal\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":605182,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/efg-hermes-egypt-education-fund-is-oversubscribed-at-first-close\/","url_meta":{"origin":629363,"position":4},"title":"EFG Hermes\u2019 Egypt Education Fund is oversubscribed at first close","author":"enterpriseam admin","date":"24 December 2018","format":false,"excerpt":"EFG Hermes\u2019 Egypt Education Fund is oversubscribed at first close: EFG Hermes\u2019 private equity arm has hit first close on its Egypt Education Fund with total commitments of USD 119 mn, according to a company press release (pdf). The commitments, which are well above an initial target of USD 50-100\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":562984,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/sfe-gems-collaborate-on-sixth-of-october-schools\/","url_meta":{"origin":629363,"position":5},"title":"SFE, GEMS collaborate on Sixth of October schools","author":"enterpriseam admin","date":"14 June 2021","format":false,"excerpt":"The Sovereign Fund of Egypt (SFE) and GEMS Egypt will establish at least two schools in Sixth of October City\u2019s state-owned Cosmic Village, a source from GEMS told Enterprise on condition of anonymity. The schools will be open for admission starting September 2023, they added. Details on an expected cost\u2026","rel":"","context":"In &quot;Education&quot;","block_context":{"text":"Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/184.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\/629363","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=629363"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/629363\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/629355"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=629363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=629363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=629363"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=629363"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=629363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}