{"id":629415,"date":"2018-05-30T04:11:32","date_gmt":"2018-05-30T04:11:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/"},"modified":"2018-05-30T04:11:32","modified_gmt":"2018-05-30T04:11:32","slug":"clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/","title":{"rendered":"CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG"},"content":{"rendered":"<p><strong>CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG: <\/strong>EFG Hermes and <a href=\"http:\/\/www.gemseducation.com\/\">GEMS Education<\/a>\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/29\/efg-tmg-to-acquire-four-schools-in-egp-1-bn-transactions-gems-tapped-as-operator\/\">joint K-12 education platform in Egypt<\/a> acquired four schools in Madinaty and Al Rehab from the Talaat Moustafa Group (TMG) for EGP 1 bn. The schools, two of which run the British system and two of which follow the national curriculum, are already up and running, with around 5,000 students already enrolled, and will be managed and operated entirely by GEMS. We had incorrectly implied in our coverage yesterday that the schools were still under development. <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/29\/efg-tmg-to-acquire-four-schools-in-egp-1-bn-transactions-gems-tapped-as-operator\/\">The story has been updated on our website<\/a>.<\/p>\n<p><strong>TMG tells us that the company has already received the proceeds from the transaction<\/strong>, adding that it \u201cfalls in line with the company\u2019s strategy to optimise management of non-core and non-residential assets \u2026 this will be achieved by bringing seasoned operators like GEMS Education onboard and entrust them with operatorships and management of assets, which fall beyond the scope of TMG Holding\u2019s core competencies.\u201d TMG has also issued a <a href=\"https:\/\/ent.news\/2018\/5\/44.pdf\">release on the acquisition (pdf)<\/a>.<\/p>\n<p><strong>The transaction is EFG\u2019s first investment in the Egyptian educational sector.<\/strong> \u201cWe will capitalize on the top-tier facilities developed by TMG in the four schools alongside our exclusive partnership with GEMS Education to offer the residents of Madinaty and Al Rehab a world-class educational service,\u201d EFG Hermes Asset Management and Private Equity boss Kareem Moussa <a href=\"https:\/\/ent.news\/2018\/5\/506.pdf\">said in a joint release yesterday (pdf)<\/a>. EFG and GEMS 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 they were forming a 50\/50 JV to invest in education in Egypt. The JV could invest as much as USD 300 mn in Egyptian education opportunities over the next five years, Moussa told <a href=\"https:\/\/www.thenational.ae\/business\/economy\/efg-and-gems-to-invest-300m-in-education-sector-in-egypt-1.732184\">the National<\/a>, a UAE daily, last week.<\/p>\n<p>In other company news, <strong>Talaat Moustafa Group (TMG) is planning to break ground on its new USD 350 mn Four Seasons hotel in Madinaty in the coming days<\/strong>, CEO Hisham Talaat Moustafa told the press on Monday, <a href=\"http:\/\/www.almalnews.com\/Story\/377413\/11\/%D8%B7%D9%84%D8%B9%D8%AA-%D9%85%D8%B5%D8%B7%D9%81%D9%89-%D8%AA%D8%A8%D8%AF%D8%A3-%D8%A8%D9%86%D8%A7%D8%A1-%D9%81%D9%88%D8%B1%D8%B3%D9%8A%D8%B2%D9%88%D9%86-%D9%85%D8%AF%D9%8A%D9%86%D8%AA%D9%89-%D8%A8%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-35\">according to Al Mal<\/a>. Moustafa also said TMG would complete the expansion of its USD 380 mn <a href=\"https:\/\/enterprise.press\/stories\/2017\/11\/08\/alwaleed-has-no-stake-in-tmg-company-to-self-finance-expansions\/\">Four Seasons hotel in Sharm El Sheikh<\/a> in 2H2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG: EFG Hermes and GEMS Education\u2019s joint K-12 education platform in Egypt acquired four schools in Madinaty and Al Rehab from the Talaat Moustafa Group (TMG) for EGP 1 bn. The schools, two of which run the British system and two of which [&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-629415","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3ab8ce50-8e3d-48b2-bcbf-1c3c6056a15a","order":"0","is_powered_by":true,"section_story_id":"b2f42c3b-e211-4e72-9021-267385c67c6d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629403],"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>CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG - 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\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG\" \/>\n<meta property=\"og:description\" content=\"CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG: EFG Hermes and GEMS Education\u2019s joint K-12 education platform in Egypt acquired four schools in Madinaty and Al Rehab from the Talaat Moustafa Group (TMG) for EGP 1 bn. The schools, two of which run the British system and two of which [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-30T04:11:32+00:00\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG\",\"datePublished\":\"2018-05-30T04:11:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\"},\"wordCount\":357,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/clarification-efg-gems-acquire-four-schools-in-egp-1-bn-transaction-from-tmg\/\",\"name\":\"CLARIFICATION- EFG, GEMS acquire four schools in EGP 1 bn transaction from TMG - 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Under\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":627854,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/gems-delays-ipo-as-uae-authorities-freeze-hikes-in-private-school-fees\/","url_meta":{"origin":629415,"position":1},"title":"GEMS delays IPO as UAE authorities freeze hikes in private school fees","author":"enterpriseam admin","date":"13 June 2018","format":false,"excerpt":"GEMS delays planned London Stock Exchange IPO as UAE authorities freeze hikes in private school fees: Dubai-based GEMS Education, one of the largest education providers in in emerging markets with 47 schools and nurseries in the GCC, appears to have parked plans for an IPO after the UAE government unexpectedly\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":629415,"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":605182,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/efg-hermes-egypt-education-fund-is-oversubscribed-at-first-close\/","url_meta":{"origin":629415,"position":3},"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":591977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-planning-egp-1-bn-sukuk-issuance-for-egypts-tmg\/","url_meta":{"origin":629415,"position":4},"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":568409,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/29\/tmg-sarwa-and-cira-makes-three\/","url_meta":{"origin":629415,"position":5},"title":"TMG, Sarwa, and CIRA makes three","author":"enterpriseam admin","date":"29 December 2020","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has signed off on EGX-listed private education outfit CIRA\u2019s EGP 600 mn sukuk issuance, FRA chief Mohamed Omran announced in a statement yesterday (pdf). Proceeds from the offering will fund CIRA\u2019s expansion plans in K-12 and higher education. The sukuks will carry a tenor of\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"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\/629415","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=629415"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/629415\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/629403"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=629415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=629415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=629415"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=629415"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=629415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}