Ebtikar for Financial Investment
Announces the Acquisition of an additional 10.1% Stake of Masary in a Transaction Valued at c. EGP 42 Million
22nd July 2019
Ebtikar for Financial Investment S.A.E (“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- “MTIE.CA” and B Investments Holding S.A.E- “BINV.CA”) announces today the completion of the acquisition of 10.1% of Masary in a transaction valued at c. EGP 42 million, Ebtikar increased its stake in Masary from 35.7% to 45.8%. It is noteworthy to mention that B Investments’ stake in Ebtikar is c. 20%
Masary is a leading company operating in the Electronic Payments sector in Egypt with c. 60,000 Points of Sale (PoS) .
This confirms Ebtikar’s commitment to its investment in Masary as a leading E-Payment provider with considerable growth potential in the Egyptian market” commented Mr. Aladdin Saba,Chairman of Ebtikar.