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Amwal Alkhaleej sells share in Sarwa Capital - Daily News Egypt

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Amwal Alkhaleej sells share in Sarwa Capital

It is engaged in consumer finance and is the parent company for Contact Auto Credit to the Egyptian-American Enterprise Fund.


 

Saudi Arabian based private equity firm, Amwal Alkhaleej, announced its exit from the Egyptian Sarwa Capital, which is one of Egypt’s largest private sector companies.

It is engaged in consumer finance and is the parent company for Contact Auto Credit to the Egyptian-American Enterprise Fund. In 2008, Amwal AlKhaleej purchased a majority stake in contract and then formed Sarwa Capital.

“The exit comes at an opportune time during the development of Egypt’s financial sector,” partner at Amwal AlKhaleej Noha Khattab said.

“Sarwa Capital’s exit comes at a time of renewed M&A interest in the Egyptian financial sector,” Head of Amwal’s Cairo office Karim Saada said.

“Contact and Sarwa Capital have been an integral part of the development of the financial sector – specifically, Contact pioneered off balance sheet securitisation in Egypt and is currently the largest issuer of debt securitisations in the market,” Saada said. “The year 2014 saw the group issue debt to the amount of EGP 1.5bn, representing a threefold increase on issue size at the time of our investment.”

 

Topics: Sarwa Capital

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https://dailyfeed.dailynewsegypt.com/2016/02/02/amwal-alkhaleej-sells-share-in-sarwa-capital/
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