{"id":630599,"date":"2018-04-26T04:28:49","date_gmt":"2018-04-26T04:28:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/abraaj-exits-cira\/"},"modified":"2018-04-26T04:28:49","modified_gmt":"2018-04-26T04:28:49","slug":"abraaj-exits-cira","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/abraaj-exits-cira\/","title":{"rendered":"Abraaj exits CIRA"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>M&A WATCH- Abraaj exits education company CIRA:<\/strong> Emerging markets private equity giant Abraaj has reportedly sold its 35% stake in CIRA back to the Egyptian education company\u2019s founding shareholders, <a href=\"http:\/\/www.almalnews.com\/Story\/373703\/11\/%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%AA%D8%B9%D9%88%D8%AF-%D8%A5%D9%84%D9%89-%D8%A2%D9%84-%D8%A7%D9%84%D9%82%D9%84%D8%A7-%D8%B9%D8%A8%D8%B1-%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC-%D8%A3%D8%A8%D8%B1%D8%A7%D8%AC\">Al Mal reports<\/a>. The stake was bought by Social Impact Capital Ltd, a vehicle belonging to the family of Hassan El Qalla, according to the newspaper. <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/23\/abraaj-challenges-could-delay-planned-ipo-or-sale-of-north-african-hospitals\/\">Bloomberg reported on Sunday<\/a> that Abraaj was in advanced talks to sell a 35% stake in CIRA to the family shareholder as part of a series of moves to lighten its footprint following allegations that it misused funds from a USD 1 bn healthcare fund. These moves also include delaying the IPO or sale of its North African hospitals business, which owns a dozen hospitals and clinics in Egypt, Tunisia, and Morocco worth a collective USD 500 mn. Abraaj had tapped EFG Hermes and Citigroup back in January to manage the sale, the business information service reported.<\/p>\n<p><strong>Will CIRA now relist on the EGX?<\/strong> CIRA is \u201cstrongly considering\u201d plans to relist on the EGX, El Qalla reportedly said. He added that all will be revealed some time in September, according to the newspaper.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;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 Qalla, according to the newspaper. [&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-630599","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"70e98700-3c31-413e-82fc-1fff171e4cc4","order":"0","is_powered_by":true,"section_story_id":"dad8214f-0b96-4004-8df1-b39022b94160","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630586],"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>Abraaj exits CIRA - 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\/04\/26\/abraaj-exits-cira\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abraaj exits CIRA\" \/>\n<meta property=\"og:description\" content=\"M&amp;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 Qalla, according to the newspaper. 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The stake was bought by Social Impact Capital Ltd, a vehicle belonging to the family of Hassan El Qalla, according to the newspaper. 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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":630599,"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":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":630599,"position":4},"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":626668,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/cira-general-assembly-approves-listing-35-of-shares\/","url_meta":{"origin":630599,"position":5},"title":"CIRA general assembly approves listing 35% of shares","author":"enterpriseam admin","date":"9 July 2018","format":false,"excerpt":"EXCLUSIVE- CIRA general assembly approves listing 35% of shares: The general assembly of education outfit Cairo Investment and Real Estate Development (CIRA) met this week and settled on relisting 35% of the company\u2019s shares on the EGX in a transaction that could come as early as October, a source close\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630599","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=630599"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630599\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630586"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630599"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630599"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}