The Clap
EFG Hermes (HRHO) subsidiary Egypt Education Platform (EEP) is set to acquire a majority stake in two preschools.
More on EEP
EEP manages EFG’s educational fund, which was established in partnership between EFG Hermes and GEMS Education.
The deets
EEP plans to add new branches for the two preschools, which have eight branches between them.
The platform is also planning more investments targeting the middle-income segment, especially in Alexandria.
The two preschools mark EEP’s first investment in preschools. EEP didn’t disclose the value of the deal
Why this matters
The deal diversifies EEP’s investment portfolio, which currently includes a number of schools which follow the American & British curricula.
For EEP’s statement, click here.
