Social Impact Capital Expands Stake in CIRA Education
Deal News | Jan 19, 2025 | Saudi PIF
Social Impact Capital Ltd. (SIC), which holds a majority 51.2% share in Cairo for Investment and Real Estate Development (CIRA Education), is set to increase their stake to 88.7% through a successful mandatory takeover offer. This strategic move is supported by a binding agreement with Afaq Al Elm Investments, linked to the Saudi Egyptian Investment Company (SEIC), itself a subsidiary of Saudi PIF. This investment signifies SEIC's trust in SIC's vision and CIRA's growth prospects in Egypt's education sector, reflecting SEIC's commitment to promising sectors in the country. The transaction highlights CIRA's ambitions to become a regional leader in education, signaling a commitment to delivering high-quality education and forming key partnerships. The investment marks a significant step in transforming education delivery and meeting the evolving educational needs within the region.
Sectors
- Education
- Private Equity
Geography
- Egypt – CIRA Education is the largest private sector education provider in Egypt and the deal involves the Egyptian market.
- Saudi Arabia – The Saudi PIF and its subsidiary SEIC are involved in the transaction, bringing Saudi investment into Egypt.
Industry
- Education – CIRA Education operates as a major player in the Egyptian educational sector, providing comprehensive education services.
- Private Equity – The transaction involves investment activities by Saudi PIF through its subsidiary SEIC, showcasing engagement in Private Equity operations.
Financials
- 37.5% – The percentage of additional CIRA Education shares to be acquired by SIC through the MTO.
- 51.2% – SIC's current majority stake in CIRA Education before acquiring additional shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Social Impact Capital Ltd. | Majority Shareholder and Acquirer | Company | SIC is increasing its stake in CIRA Education through a mandatory takeover offer. |
| Cairo for Investment and Real Estate Development (CIRA Education) | Target Company | Company | CIRA Education is a leading private sector education provider in Egypt. |
| Afaq Al Elm Investments Company | Investor | Company | Afaq Al Elm is a subsidiary of SEIC investing in SIC through capital increase. |
| Saudi Egyptian Investment Company (SEIC) | Investor | Company | A fully owned subsidiary of Saudi PIF, SEIC supports SIC's acquisition strategy. |
| Public Investment Fund (Saudi PIF) | Investor | Company | Saudi PIF is a sovereign wealth fund backing SEIC's strategic investments in Egypt. |
| Muteb Al Shathri | Acting CEO of SEIC | Person | He remarks on SEIC's investment strategy in the promising education sector. |
| Mohammed El Kalla | CEO of CIRA Education | Person | He speaks about CIRA's vision and the partnership's transformative potential. |