Qalaa Holdings divests its 70% stake in Tanmeyah to EFG-Hermes
Qalaa Holdings [CCAP.CA] announced that it has signed a sale and purchase agreement for the divestment of its 70% effective stake in Tanmeyah Microenterprise Services, a provider of micro finance solutions in Egypt, to EFG-Hermes [HRHO.CA] at a total equity value for the entire company at EGP450 million or a proportionate value of EGP315 million per Qalaa Holdings' share. It is worth noting that EFG-Hermes acquired an additional 6.7% stake in the company that was held by Tanmeyah's management. (Company disclosure)
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