New fund to invest in K12 education in Egypt

Matouk Bassiouny & Hennawy (MBH) acted as the legal counsel of new k-12 investment platform

  
Children sit around a picturebook with their educator at a German kindergarden also known as 'Kita' in the Neuk?lln district on July 3, 2019 in Berlin, Germany. Image used for illustrative purpose.

Children sit around a picturebook with their educator at a German kindergarden also known as 'Kita' in the Neuk?lln district on July 3, 2019 in Berlin, Germany. Image used for illustrative purpose.

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ArabFinance: A group of Egyptian banks and investors have set up a new fund dedicated to investing in K12 private schools in Egypt, according to a statement by Matouk Bassiouny & Hennawy.

Matouk Bassiouny & Hennawy (MBH) acted as the legal counsel of new k-12 investment platform promoted to undertaking investment activities in private schools in Egypt with an allocated targeted investment of EGP 1.75 billion.

MBH represented the promoters in addition to the preparation and negotiation of all the platform structuring and incorporation documents, and will also handle the incorporation of the relevant companies for establishing and managing the platform.

The platform, which is prompted by Ironwood Investments (IWI), and Hossam Kabbani, as one of the largest investment entities within the educational sector, will be founded, inter alia, by several banks and financial intuitions including, the Sovereign Fund of Egypt, Misr Insurance Holding, Banque Misr, IWI, HK and others.

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