Egypt’s First SPAC, Catalyst Partners, Moves to Acquire Precious Metals Leader EIH Consulting
Catalyst Partners Middle East (CPME), the first Special Purpose Acquisition Company (SPAC) listed on the Egyptian Exchange (EGX), has announced preliminary board approval to acquire a controlling stake, potentially up to 100%, of EIH Consulting. This strategic move aims to strengthen CPME’s footprint in the non-banking financial services sector, specifically targeting the burgeoning precious metals market. EIH Consulting is a pioneer in the field, notably through its digital platform “Manjam,” which facilitates precious metal trading for institutions, investment funds, and individuals.
Maged Shawky, Chairman and Co-Founder of CPME, stated that this acquisition aligns with the company’s vision to invest in high-potential sectors that offer long-term value. To ensure transparency, CPME has appointed Gravition Financial Advisory as an independent financial advisor to conduct a fair value study. The transaction structure remains flexible, with options for either a cash acquisition or a share swap, pending final negotiations and regulatory approvals.