Catalyst Partners Middle East (CPME), Egypt’s first special purpose acquisition company, announced in-principle board approval to pursue a controlling stake, potentially up to 100%, in EIH Consulting and its subsidiaries. The transaction supports expansion into non-banking financial services, focusing on precious metals. It remains subject to due diligence and regulatory approvals.
Catalyst Partners Middle East (CPME), Egypt’s first special purpose acquisition company (SPAC), announced that its board granted in-principle approval to proceed with acquiring a controlling stake, potentially up to 100%, in EIH Consulting and its subsidiaries.
The deal aligns with CPME’s strategy to grow in non-banking financial services, particularly the precious metals sector. EIH Consulting, a key player in Egypt’s precious metals investment and trading, introduced the “mnGm” digital platform for trading gold and silver by individuals, institutions, and funds.
CPME authorized its chairperson, chief executive, or a delegate to start due diligence, negotiations, and finalize the deal structure—via cash, share swap, or both. The firm appointed Gravition Financial Advisory as an independent adviser for a fair value assessment, per regulations.
“This step aligns with our strategy of investing in high-potential sectors,” said Maged Shawky, CPME’s Chairperson and Co-Founder. Sameh El-Torgoman, EIH’s Chairperson and CEO, stated: “This marks a pivotal milestone as we move into a new phase of expansion.”
The transaction is pending negotiations, due diligence, and regulatory approvals.