Arab Finance: Company announced EFG Group (HRHO)Its Promotion and Underwriting Sector has provided advisory services for the acquisition deal by Maaref Education of the entire ownership stakes of Ibn Khaldun Educational Company.
Upon completion of all acquisition procedures, Maarif Education will become the largest provider of basic and pre-university education services in the Kingdom of Saudi Arabia in terms of revenues and geographical presence. In addition, this deal is one of the largest investments in the education sector in the Kingdom of Saudi Arabia.
Maarif Education has extensive experience spanning more than 50 years in the basic and pre-university education sector in the Kingdom of Saudi Arabia, and has a strong educational infrastructure and comprehensive curricula that meet the needs of a large population segment. In addition, the acquisition deal will enhance the company's resources and its ability to reach the target segments, which will consolidate its leading position at the local level because it has the necessary capabilities to provide its services to a large number of students in the Kingdom.
In this context, Karim Malika, Co-Head of the Promotion and Underwriting Sector at EFG Hermes, expressed his pride in providing advisory services for Maarif Education’s acquisition of Ibn Khaldun Schools. Upon completion of this acquisition, Ma’arif will be the leading K-12 private education provider in the Kingdom, strengthening its strategy to expand high-quality private education in line with the Kingdom’s vision.
This deal highlights our commitment to providing expertise and trusted advisory services, making us the partner of choice for pivotal education deals across the region. This deal represents our third advisory mandate in the education sector this year, after we had previously implemented the accelerated book-building mechanism for the “Taleem” group, valued at $66.9 million, and the initial public offering of “Alef Education” on the Abu Dhabi Securities Market, valued at $66.9 million. 514.6 million US dollars. It is worth noting that EFG Hermes acted as the sole financial advisor for the deal.
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