MNT-Halan Acquires Turkiye’s Tam Finans
Tam Finans, established in 2012, specializes in trade finance services for SMEs, tradesmen, and newly established businesses in Turkiye.
Egyptian fintech MNT-Halan has announced the acquisition of Tam Finans, a commercial finance company based in Turkiye. The transaction, completed by Actera Group and the European Bank for Reconstruction and Development (EBRD), involves Tam Finans' substantial loan book, valued at over $300 million.
Tam Finans, established in 2012, specializes in trade finance services for SMEs, tradesmen, and newly established businesses in Turkiye.
Legal advisory for the acquisition was provided by Maatouk Bassiouny & Hennawy, Esin Attorney Partnership, and Van Campen Liem for the buyers, with Clifford Chance advising the sellers. PwC and BCG served as financial and commercial advisers, respectively, further facilitating the transaction’s completion.
Earlier this month, MNT-Halan, Egypt’s first unicorn, raised $157.5 million from international investors to expand beyond Egypt. The investment round saw contributions from the International Finance Corporation (IFC) with $40 million, alongside Development Partners International (DPI), Lorax Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp.
In April, MNT-Halan acquired Advans Microfinance Bank Limited in Pakistan.
In November 2023, the company raised a $130 million securitization, part of five tranches of securitized bond issuances last year, underscoring its robust financial strategy and market presence.