Ebtikar acquires 33.7% stake in Masary
M&A WATCH- Ebtikar acquires 33.7% stake in payments outfit Masary: Ebtikar for Financial Investment, a joint venture between B Investments and MM Group, acquired a 33.7% stake in e-payments firm Masary in a transaction worth EGP 130 mn, Ebtikar said in a statement on Monday (pdf). The transaction on Masary, which now has some 60k points of sale in its network, marks the fourth significant acquisition by Ebtikar this year, the company said, noting it had earlier bought stakes in TBE Egypt for Payment Solutions and Services (Bee), Vitas Misr for Microfinance and Tamweel Group. “The acquisition of Masary positions Ebtikar as one of the leading investors in the electronic payments sector in Egypt,” said Ebtikar Chairman Aladdin Saba. Advisors: Zaki Hashem & Partners was buy-side legal counsel.