Cairo – Mubasher: WadiDegla Holding Company on Saturday signed a contract with Ezdehar Egypt Mid-Cap Fund under which the fund will acquire a 60% stake in Global Lease Company.
The deal will support Global Lease’ expansions in non-banking financial activities, The CEO Hatem Samir stated.
WadiDegla Holding chose to exit from Global Lease after three years after the company’s incorporation, making sure that the company is achieving its goals, in order to attract new shareholders, WadiDegla Holding’s chairman Maged Samy commented.
SANAD Fund, KfW’s unit, has a 30% stake in Global Lease, while the CEO Hatem Samir has only a 10% stake in the Egypt-based financial lease company.
WadiDegla Holding Company did not disclose the deal's value.
