Arab Finance: EFG Hermes, a subsidiary of EFG Holding and an investment bank in the MENA region, completed advisory on StonePine Ace Partners’ sale of its 7% stake in Taaleem Management Services (TALM.CA) through an Accelerated Bookbuild (ABB), as per an emailed press release.

EFG Hermes acted as the sole financial advisor and bookrunner for the transaction.

The sale marks the full exit of StonePine Ace Partners—a joint venture between UAE-based StonePine Capital Partners and ACE & Company SA—from its investment in Taaleem Management Services.

The exit achieved a 4.8x multiple on invested capital (MOIC) in Egyptian pounds and a 1.8x MOIC in US dollars.

EFG Hermes said the transaction reflects investor interest in Egypt’s education sector and the increasing liquidity in the local capital markets.

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