Global Investment Holding (GIH) plans to buy 30% of Eastern Company, an Egyptian state-owned tobacco manufacturer. Owned by the Holding Company for Chemical Industries, the significant minority stake acquisition, which the Emirati investment company is buying for USD 625mn, means that the investment firm is the single-largest shareholder.
The deal values Eastern Company at more than USD 2bn.
Sehatech raises $850,000 from A15, Belton Venture Capital
Egyptian healthtech platform Sehatech has raised USD 850,000 from A15 and Beltone Venture Capital. With the funds, the startup plans to improve user experience, expand its team, and invest in product development.
The startup was founded in 2022 by Mostafa Tarek, Mohamed Elshabrawy and Omar Shawky. It digitises and automates the interaction between insurers and healthcare service providers, which includes third-party administration.
Alliance Law Firm acted as legal adviser to Sehatech.
Meanwhile, Nocks, an Egyptian startup that focuses on high-end real estate startup has sold a 10% stake to serial founder Mohammed ‘Nagaty’ Aboulnaga.