Matouk Bassiouny & Hennawy Advised Saudi Public Investment Fund On SIC’s Acquisition Of CIRA Education Stake

Matouk Bassiouny & Hennawy Advised Saudi Public Investment Fund on SIC’s Acquisitionv of CIRA Education Stake

Matouk Bassiouny & Hennawy (MBH) advised the Saudi Public Investment Fund (PIF) in connection with Social Impact Capital’s (SIC) acquisition of an additional 37.5% stake in Egyptian private education service provider CIRA Education.

The transaction, valued at EGP 3.4 billion, was structured through a successful mandatory takeover offer (MTO). SIC will increase its stake in CIRA Education from 51.2% to 88.7%. This acquisition follows a binding agreement with Afaq Al Elm, an investor and subsidiary of the Saudi Egyptian Investment Company (SEIC). SEIC, launched by PIF in 2022, aims to boost the fund’s presence in Egypt, which connects PIF to the broader context of this deal.

The investment proceeds will strengthen CIRA Education’s regional presence and initiatives, further enhancing its position in the education sector listed on the Egyptian Exchange (EGX).

Omar S. Bassiouny, Founding Partner and Group Head of Corporate and M&A at MBH, led the team advising PIF on this transaction. The team was further supported by Senior Associate Fatma Akram, along with Associates Habiba Mohamed and Mohamed Akram.