{"id":325392,"date":"2022-05-11T13:28:08","date_gmt":"2022-05-11T13:28:08","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325392"},"modified":"2022-05-11T13:41:38","modified_gmt":"2022-05-11T13:41:38","slug":"ebrd-amethis-spe-capital-acquire-egyptian-fintech-globalcorp","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/05\/11\/ebrd-amethis-spe-capital-acquire-egyptian-fintech-globalcorp\/","title":{"rendered":"EBRD, Amethis, SPE Capital acquire Egyptian fintech GlobalCorp"},"content":{"rendered":"

A consortium of the European Bank for Reconstruction and Development (EBRD), France\u2019s Amethis \u2013 member of Edmond de Rothschild private equity platform, and SPE Capital announced the acquisition of a majority stake in Egyptian fintech GlobalCorp.<\/p>\n

Established in 2015, GlobalCorp is a leading Egyptian non-bank financial player with a current focus on leasing and factoring solutions for corporates and small, medium and large enterprises. Its leased assets include production lines, equipment and machinery, vehicles, and commercial\/industrial real-estate while the factoring product portfolio covers a range of short-term financing solutions.<\/p>\n

\"\"
Adnane Zerhouni, Investment Director at Amethis<\/figcaption><\/figure>\n

Since inception, GlobalCorp has extended 13 billion Egyptian pounds ($715 million) of credit over 800 leasing and factoring contracts spanning more than 30 industries, with over 25 percent of its portfolio serving SMEs and green financing. The company has also arranged the first and largest factoring syndication in Egypt and has completed its first securitisation at the end of 2021.<\/p>\n

The investment consortium will be investing in GlobalCorp alongside founder, Group CEO Hatem Samir and in partnership with his management team.<\/p>\n

The investment in GlobalCorp will include a primary capital investment to further scale the company\u2019s portfolio and expand into new business segments.<\/p>\n

\"EBRD\"
Heike Harmgart, EBRD\u2019s managing director for SEMED region<\/figcaption><\/figure>\n

Adnane Zerhouni, Investment Director at Amethis, said: \u201cwe are looking forward to help grow the company, thus contributing to financial inclusion in Egypt. This is the first investment of Amethis in Egypt, which is now a core market for our funds.\u201d<\/p>\n

The consortium will also partner with GlobalCorp\u2019s management on scaling the company\u2019s infrastructure and operations, investing in technology and advancing the company\u2019s impact agenda, including the promotion of greater financial inclusion, financing to SME clients and green initiatives as well as promoting leading ESG and client protection standards within the NBFS industry, GlobalCorp, EBRD, SPE, and Amethis said in a joint release<\/a>.<\/p>\n

\u201cWe are very happy to join this consortium for the Bank\u2019s first equity investment in a financial institution in Egypt and its first partnership in Egypt\u2019s leasing and factoring sector.\u201d Heike Harmgart, EBRD managing director for the Southern and Eastern Mediterranean region, said.<\/p>\n

\u201cThis investment will support a leading financial company to provide financing to an important segment of the Egyptian economy, covering small and medium businesses.\u201d<\/p>\n

\"\"
GlobalCorp\u2019s founder and CEO Hatem Samir<\/figcaption><\/figure>\n

Ahmed Eloraby, Partner and Mehdi Charfi, Managing Partner at SPE Capital, added: \u201cThis will be our second investment in Egypt through the SPE AIF I fund and a reflection of the deepening of SPE Capital\u2019s on-the-ground presence as a team.\u201d<\/p>\n

Meanwhile, GlobalCorp\u2019s Hatem Samir said: \u201cThe backing of leading international financial institutions is a testimony to GlobalCorp\u2019s success and unique profile in the market. We have ambitious plans for the company and look forward to combining our strengths to create value for all our stakeholders.\u201d<\/p>\n

The consortium deal teams included Adnane Zerhouni, Aur\u00e9lie Pujo, Badr Chkiriba, Omar Naciri and Khalil Benjelloun Touimi representing Amethis, while Oumnia Benaddi, Sweta Penemetsa, Hassan Masoud, Martin Levesques and Dominique Naggar from the EBRD, and Mehdi Charfi, Ahmed Eloraby, Sami Ergin and Omar Elhariry from SPE Capital.<\/p>\n

The consortium was advised by Helmy, Hamza and Partners \u2013 Member Firm of Baker & McKenzie International (legal advisor), PricewaterhouseCoopers (financial advisor), IBIS Consulting (ESG and Impact), and various other consultants on commercial and technical matters.<\/p>\n

The sellers were advised by Kamco Investment Company (Kamco Invest) (exclusive sell side financial advisor) and Matouk Bassiouny Business Law Office (legal advisor).<\/p>\n","protected":false},"excerpt":{"rendered":"

A consortium of the European Bank for Reconstruction and Development (EBRD), France\u2019s Amethis \u2013 member of Edmond de Rothschild private equity platform, and SPE Capital announced the acquisition of a majority stake in Egyptian fintech GlobalCorp.<\/p>\n","protected":false},"author":4,"featured_media":325394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,33],"tags":[],"class_list":["post-325392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-products","category-main"],"yoast_head":"\nEBRD, Amethis, SPE Capital acquire Egyptian fintech GlobalCorp - egy-africa<\/title>\n<meta name=\"description\" content=\"A consortium of the European Bank for Reconstruction and Development (EBRD), France\u2019s Amethis \u2013 member of Edmond de Rothschild private equity platform, and SPE Capital announced the acquisition of a majority stake in Egyptian fintech GlobalCorp.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/05\/11\/ebrd-amethis-spe-capital-acquire-egyptian-fintech-globalcorp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD, Amethis, SPE Capital acquire Egyptian fintech GlobalCorp - 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