Raya Holding Divests 42.9% Stake in Data Centers to Africa50 for $15 Million

On Thursday, Raya Holding finalized the sale of a 42.9% stake in its subsidiary, Raya Data Centers, to Africa50, a pan-African infrastructure investment platform, for $15 million. The deal comes after Raya’s board of directors gave preliminary approval to the offer earlier this week.

Raya Holding's CFO, Hossam Hussein, commented, “This investment reflects the continued confidence of international investors in Raya Holding's diverse investment portfolio and ambitious vision. It marks another significant milestone following the $40 million deal led by Helios Investment Partners in Raya Foods, reaffirming the strength of our strategy in attracting major investments across vital and diverse sectors.”

The $15 million investment will help jumpstart construction on a new Tier III data center in Egypt, set to break ground in early 2025.

The facility, part of a larger $35 million project, will address the growing demand for “reliable, scalable, and certified digital infrastructure in Egypt and Africa,” as Raya Holding CEO Ahmed Khalil noted in a previous statement earlier this week.

This partnership with Africa50 will further strengthen Raya Data Centers’ position as a leading provider of innovative and reliable data solutions, supporting their vision for regional expansion and technological advancement, said CI Capital CEO Amr Helal.

CI Capital acted as Raya Holding’s financial advisor, while Helmy, Hamza & Partners — Baker McKenzie’s Cairo office — served as legal counsel for the company. For Africa50, Herbert Smith Freehills LLP acted as financial advisor, and Matouk Bassiouny & Hennawy provided legal counsel.