RIYADH: A consortium of investors comprising Paris-based investment firm Amethis, the European Bank for Reconstruction and Development and private equity firm SPE Capital has acquired a majority stake in Egypt’s financial services provider GlobalCorp to propel its growth plan, local media Daily News Egypt reported.
“We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders,” CEO of GlobalCorp, Hatem Samir said.
Launched in 2015, GlobalCorp is a non-banking financial leader, specializing in leasing and factory solutions for businesses. It has extended 13 billion Egyptian pounds ($715 million) of credit since its inception.
“This is the first investment of Amethis in Egypt, which is now a core market for our funds,” added Adnane Zerhouni, investment director at Amethis.
Heike Harmgart, EBRD managing director, also added: “This investment will support a leading financial company to provide financing to an important segment of the Egyptian economy, covering small and medium businesses.”
