Back to the complete issue
Thursday, 14 November 2019

Ebtikar ups stake in Masary for fifth time since July

M&A WATCH- Ebtikar ups stake in Masary for fifth time since July: Ebtikar for Financial Investment, a joint venture between B Investments, BPE Partners and MM Group, has increased its stake in Egyptian e-payments company Masary to 69.8% from 65.5% in a EGP 18.7 mn transaction, the company said in a statement yesterday (pdf). Ebtikar has effectively doubled its holdings of the company across a series of five transactions in the second half of this year, having held 35.7% prior to July. B Investments holds a 20.3% stake in Ebtikar, while MM Group holds 49.9%. Ebtikar Chairman Aladdin Saba said the latest transaction demonstrates the company’s “confidence” in the Egyptian e-payment sector, according to a press release by MM Group (pdf).

CORRECTED on 14 November 2019

MM Group holds a 49.9% stake in Ebtikar and not 52.9% as previously mentioned. 

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt.