عربــى

EGX 30 14,205.86 -0.02%



Ebtikar increases its stake in Masary to reach 54.9% by acquiring 9.1%

Ebtikar increases its stake in Masary to reach 54.9% by acquiring 9.1%

ArabFinance: MM Group for industry and International Trade (MTI) (MTIE) announced today that Ebtikar - a leading investor in the Non-Banking Financial Services sector in Egypt (a joint venture between MM Group for Industry and International Trade S.A.E- uMTIE.CA" and B Investments Holding S.A.E- "BINV.CA") has acquired 9.1% of the shares of Masary for a total transaction value of EGP 40million, thus increasing Ebtikar's ownership from its current stake of 45.8% to reach 54.9%. The transfer ofthe shares was implemented and completed at the Egyptian Stock Exchange(EGX).
It is noteworthy to mention that MTI holds a c.52.9% stake in Ebtikar.

Masary is a leading company operating in the Electronic Payments sector in Egypt with around 60,000 active Points of Sales.

This Transaction will increase MTI's ownership in Masary from its current ownership of approximately 35% to reach approximately 40%.

#Related keywords

All rights reserved to Arab Finance 2015 ©

Back to top