(3 minutes read)
· Board of Directors of Ebtikar Holding for Financial Investments S.A.E. (Ebtikar) will be acquiring 20 percent of TBE Egypt for Payment Solutions and Services (Bee) which was owned by Technobiz Equipments PTE
· Ebtikar will shortly get listed on the Egyptian Stock Exchange (EGX)
Board of Directors of Ebtikar Holding for Financial Investments S.A.E. (Ebtikar) will be acquiring 20 percent of TBE Egypt for Payment Solutions and Services (Bee) which is owned by Technobiz Equipment PTE. Ebtikar will shortly get listed on the Egyptian Stock Exchange (EGX).
With the acquisition, Ebtikar’s ownership of the company increases from its current stake of 60 percent to 80 percent. Ebtikar is a joint venture between MM Group for Industry and International Trade and B Investments Holding, the owning company of Bee and Masary for e-payments. MM Group and International Trade (MTI) hold a 49.9 percent stake in Ebtikar.
Also, Board of Directors of Ebtikar approved singing a Memorandum of Understanding (MoU) with Vodafone Egypt, to allow Vodafone Egypt to participate in a capital increase in TBE Egypt for Payment Solutions and Services (Bee) and Masary for e-payments companies to reach a stake of 20% in each company.
MTI operates within the capital goods sector focusing on trading companies & distributors, while B Investments Holdings operates within the diversified financial sector focusing on investment banking & brokerage
