Cairo – Mubasher: Sphinx Obelisk B.V. sold its entire stake of 52.05% in Taaleem Management Services.
The transaction involved the sale of 380.11 million shares for EGP 1.74 billion, averaging EGP 4.59 per share, according to a statement to the Egyptian Exchange (EGX) on Monday.
Another disclosure revealed that Thebes C.V. acquired 20.82% of Taaleem by buying 152.04 million shares for EGP 697.88 million or an average price of EGP 4.59 a share.
Moreover, it is disclosed that NUB HoldCo DMCC acquired 7.07% or 51.62 million shares in the higher education management company for EGP 236.97 million and EGY EDU Invest B.V. acquired 13.17% or 96.15 million shares for EGP 441.33 million.
In the nine-month period ended 31 May, Taaleem Management Services achieved consolidated net profits of EGP 228.39 million, up from EGP 193.04 million in the year-ago period, including minority shareholders' rights.
