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Thursday, 19 September 2019

Ebtikar acquires additional 9.1% stake in e-payments firm Masary

M&A WATCH- Ebtikar acquires additional 9.1% stake in Masary for EGP 40 mn: Ebtikar for Financial Investment, a joint venture between BPE Partners and MM Group, has acquired an additional 9.1% stake in e-payments firm Masary in a transaction worth EGP 40 mn, MM Group said in a statement (pdf). The transaction brings Ebtikar’s stake in Masary to 54.9% and MM Group’s ownership in Masary to approximately 40%, up from 35%. B Investments holds a 20% stake in Ebtikar, while MM Group holds 52.9%. Ebtikar had acquired an additional 10% stake in the electronic payments firm in July.

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