Taaleem Management Services has completed the acquisition of 32% of SB Investment which owns an under-construction university in Fifth Settlement, New Cairo. The sources added that the aim of increasing the company’s capital is to accelerate the university’s construction operations. The sources also stated that SB Investment is owned by a number of businessmen working in the paints sector in Egypt, refusing to disclose their names. The company’s revenues increased during the three months to EGP 229.8m, compared to EGP 171.65m during the same period of the previous fiscal year. The company explained that the decision came after reviewing the report of the independent financial advisor on the fair evaluation of the shares of SB Investment.
