Ebtikar acquires additional 10% stake in e-payments firm Masary

M&A WATCH- Ebtikar acquires additional 10% stake in Masary: Ebtikar for Financial Investment, a joint venture between BPE Partners and MM Group, acquired an additional 10% stake in e-payments firm Masary in a transaction worth EGP 42 mn, MM Group said in a statement to the bourse (pdf). The transaction brings Ebtikar’s stake in Masary to 45.8% from 35.7%, according to a B Payments statement (pdf). B Investments holds a 20% stake in Ebtikar, while MM Group holds 52.9%. The stake increase “confirms Ebtikar’s commitment to its investment in Masary as a leading E-Payment provider with considerable growth potential in the Egyptian market,” said Ebtikar Chairman Aladdin Saba.