Ebtikar now maintains 80 percent of Bee in the estimated LE 40 million deal after previously holding 60 percent
Non-banking financial services provider Ebtikar strengthens its hold of e-payment company Bee after acquiring another 20 percent of the latter, according to unnamed sources cited by Al Mal.
Ebtikar now maintains 80 percent of Bee in the estimated LE 40 million deal after previously holding 60 percent. Sources noted that the company is now considering swapping shares with Techno Beez, where they will acquire shares in Ebtikar.
Vodafone Egypt is set to also acquire 20 percent of Bee, alongside another Ebtikar e-payment subsidiary Masary, as part of an MoU between Vodafone and Ebtikar according to sources back in February.
The acquisition comes as part of the mobile network operator’s plans to ramp up its investments in Egypt and expand its non-banking financial services products.
Ebtikar is a joint venture between B investments, BPE Partners and MM Group for Industry and International Trade.
