Egypt: EEP enters into definitive agreements to acquire majority stake in Selah El-Telmeez

Egypt Education Platform (EEP) — the fastest growing education service provider in Egypt — and the Sovereign Fund of Egypt (TSFE) announced on Sunday that they entered into definitive agreements on 6 October to acquire a majority stake in Selah El-Telmeez (SET) — the famous 60-year-old legacy K-12 education brand. This brings together EEP’s unique education offering experience together with Egypt’s prime developer of K-12 education content that serves millions of Egyptian students. “Our primary objective going into this partnership is to capitalise on the existing wide spectrum of globally available technological advancements. With EEP, we realised the potential of creating diverse and engaging educational content to cater to the advancement of the sizeable middle and lower-income segments across Egypt’s 27 governorates. All under the widely admired and trusted brand of SET with its proficient management capabilities and the EEP’s progressive approaches,” said CEO of the TSFE Ayman Soliman. “This investment complements the TSFE’s Education Investment strategy to provide a wide segment of Egyptians with affordable innovative educational solutions that are intended to support Egyptian students against their learning challenges. The TSFE seeks to increase returns and create wealth for future generations across several axes, among which is creating sustainable returns through investments that tie closely to Egypt’s priorities,” he added. “SET is a 60-year-old legacy, an iconic brand, and a gateway for Egyptian K-12 students to access highly valuable education content and resources developed by a passionate community and team,” said CEO of the EEP Ahmed Wahby. “Together we can transform the way students learn, and by students, we don’t mean only SET’s current student base, but students throughout different societal classes across the country; delivering powerful educational content and leveraging the latest digital learning technologies for both better engagement and more insights across all income segments.” The EEP saw significant growth over the past three years with its portfolio currently spanning a largely diversified pool of 18 national & international schools and pre-schools operating across Cairo and Alexandria under different brand names, including GEMS, Hayah, Trillium, and Petals, which house more than 11,000 students who will directly benefit from the superior education content and resources developed by SET to navigate their respective education journeys. “The integration of SET with the EEP is clearly a significant milestone for our platform that brings vast synergies as we target to accelerate the company’s digital transformation to unlock new innovative learning solutions. We are fully committed to supporting SET in realising its full growth potential by integrating its capacity to expand its footprint of education content and teaching resources, accelerating its EdTech journey by utilising the vast experience offered by the EEP’s academic leadership, combined with unparalleled content know-how of SET,” added Wahby. “Today marks the beginning of an exciting new chapter for SET; one where we will be able to accelerate our mission and help more students than ever access our learning solutions,” said CEO of SET Waleed Hamdy. “As part of the EEP, SET will deliver more value to students with a broader and more agile platform, backed up by the EEP’s highly dynamic, passionate, and experienced team that operates in a very well governed structure. We are thrilled to embark on a journey with the EEP that will undoubtedly transform learning experience across the country by putting more focus on engaging digital content to lead on this educational revolution.” With SET, the EEP will be positioned to play a greater role in driving digital transformation in education, enabling students to tap into the best in industry content across different stages and surface deeper insights to make smarter decisions, drive intelligent and connected student experiences, and accelerate innovation. White & Case acted as the legal adviser for the EEP on the acquisition of SET. Meanwhile, Adsero acted as the legal adviser for the TSFE and Al-Tamimi & Co represented the sellers. © 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Egypt: EEP enters into definitive agreements to acquire majority stake in Selah El-Telmeez

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