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Monday, 7 October 2019

Ebtikar acquires additional 4.8% stake in Egyptian e-payments firm Masary

M&A WATCH- Ebtikar acquires additional 4.8% stake in Masary: Ebtikar for Financial Investment, a joint venture between BPE Partners and MM Group, has reportedly acquired an additional 4.8% stake in e-payments firm Masary, unnamed sources from Ebtikar told the local press. The sources did not disclose the value of the transaction, which brings Ebtikar’s stake in Masary to 59.7%. Ebtikar is reportedly planning to raise its stake in Masary yet again this month, the sources said, without providing additional information. Ebtikar’s IR manager Ashraf Ghannam had told the local press last month that the company is not angling for full ownership of the e-payments firm. Ebtikar had acquired a 10% stake in Masary in July, and another 9.1% stake in September.

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