{"id":658452,"date":"2025-01-12T00:00:00","date_gmt":"2025-01-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/social-impact-capital-revises-cira-education-bid-to-90-with-increased-share-price-offer\/"},"modified":"2025-01-12T00:00:00","modified_gmt":"2025-01-12T00:00:00","slug":"social-impact-capital-revises-cira-education-bid-to-90-with-increased-share-price-offer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/12\/social-impact-capital-revises-cira-education-bid-to-90-with-increased-share-price-offer\/","title":{"rendered":"Social Impact Capital revises CIRA Education bid to 90% with increased share price offer"},"content":{"rendered":"

CIRA Education majority shareholder Social Impact Capital (SIC) is now<\/strong> offering a price-per-share of EGP 15.5 <\/strong>in its acquisition bid for the EGX-listed educational services provider, up from EGP 15.0<\/a> previously, according to a Financial Regulatory Authority statement (pdf)<\/a> detailing the amended its mandatory tender offer.<\/p>\n

Why would SIC up its offer? <\/strong> The Public Investment Fund-backed vehicle\u2019s increased offer for the EGX-listed educational services provider follows a f<\/a>air value study (pdf<\/a>)<\/a> of the company by financial advisor BDO Keys Financial Consulting that found the fair value of the company to be EGP 10.5 bn or EGP 17.95 per share. <\/p>\n

The amendment also canceled a clause that stipulates the voluntary delisting of CIRA\u2019s<\/strong> shares within two years of the acquisition\u2019s execution<\/strong>, with the company subsequently lowering its purchase offer to buy up to an additional 38.78% of CIRA\u2019s shares \u2014 approximately 226 mn shares by our math \u2014 in a move that would bring its holding in the company to up to 90%.<\/p>\n

The revised share price and new target bring the total value of the <\/strong>transaction to up to EGP 3.5 bn by our math<\/strong>, down from EGP 4.26 bn previously.<\/p>\n

Remember:<\/strong> The FRA approved<\/a> SIC\u2019s MTO to acquire up to an additional 48.78% of CIRA last month. <\/p>\n

Advisors: <\/strong>Our friends at EFG Hermes are brokering the transaction and Matouk Bassiouny & Hennawy is buy-side legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

CIRA\u2019s shares have a fair value of some EGP 17.95 apiece<\/p>\n","protected":false},"author":1,"featured_media":658453,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7363],"tags":[402,73,72,7128,7345,8573],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-cira-education","tag-education","tag-enterpriseam","tag-ma-watch","tag-public-investment-fund","tag-social-impact-capital","wpautop","entry"],"acf":{"mongo_id":"fa1dbbc1-2d1f-4683-b651-5ddd6b550ae6","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/540.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Social Impact Capital revises CIRA Education bid to 90% with increased share price offer","related_issue":[658439],"teaser":"CIRA\u2019s shares have a fair value of some EGP 17.95 apiece","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.65a068a3-994c-4bdd-8918-b7ac73c83221.mp3"},"yoast_head":"\nSocial Impact Capital revises CIRA Education bid to 90% with increased share price offer - 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\/2025\/01\/12\/social-impact-capital-revises-cira-education-bid-to-90-with-increased-share-price-offer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social Impact Capital revises CIRA Education bid to 90% with increased share price offer\" \/>\n<meta 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