{"id":546009,"date":"2022-04-20T03:56:11","date_gmt":"2022-04-20T03:56:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/20\/vodafone-egypt-acquires-10-stake-in-bee-and-masary-setting-the-record-straight-on-an-arco-ashry-steel-tieup\/"},"modified":"2022-04-20T03:56:11","modified_gmt":"2022-04-20T03:56:11","slug":"vodafone-egypt-acquires-10-stake-in-bee-and-masary-setting-the-record-straight-on-an-arco-ashry-steel-tieup","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/20\/vodafone-egypt-acquires-10-stake-in-bee-and-masary-setting-the-record-straight-on-an-arco-ashry-steel-tieup\/","title":{"rendered":"Vodafone Egypt acquires 10% stake in Bee and Masary + setting the record straight on an Arco-Ashry Steel tieup"},"content":{"rendered":"

<\/a> Vodafone Egypt makes first stake buys in Bee + Masary: <\/strong>Vodafone Egypt has acquired 10% stakes in e-payment platforms Bee and Masary, subsidiaries of non-banking financial services (NBFS) provider Ebtikar, according to a disclosure (pdf)<\/a> filed to the EGX yesterday by Ebtikar parent company B Investments. The telecoms giant \u2014 which plans to eventually acquire a 20% stake in each firm \u2014 subscribed to a capital increase at par value, reducing Ebtikar\u2019s ownership in Bee to just over 90% and its stake in Masary to 63.6%.<\/p>\n

A year in the making:<\/strong> The transaction comes under the terms of an MoU signed between the two companies in early 2021<\/a> under which Vodafone signaled its intent to acquire 20% of Bee and Masary. The telecom operator wrapped up due diligence<\/a> on the companies in August.<\/p>\n

Vodafone is still planning to acquire 20% of each company: <\/strong>A Vodafone Egypt representative told us yesterday afternoon that it is sticking to the MoU and still intends to acquire 20% of both firms. The acquisition is taking place in two phases, and Vodafone will purchase the remaining 10% stakes after receiving final regulatory approvals, the official said.<\/p>\n

What\u2019s in it for Bee and Masary?<\/strong> The two firms \u201cwill have access to know-how, new products, market expertise and the facilitation of regional expansions,\u201d B Investments IR Director Omar El Labban told Enterprise. \u201cBee and Masary are expected to benefit from expedited growth and play an even more expanded and major role in the digital transformation of the economy,\u201d he said. Ebtikar is a joint venture between B Investments, BPE Partners and MTI.<\/p>\n

And for Vodafone?<\/strong> The acquisition comes as part of the company\u2019s plans to increase investments in Egypt and expand its footprint in the NBFS space.<\/p>\n

Advisors:<\/strong> Zaki Hashem & Partners advised Masary and Bee, while Vodafone was advised by Hafez & Partners.<\/p>\n

IN OTHER M&A NEWS-<\/p>\n

Has Ashry Steel just taken over <\/strong>Arco Steel?<\/strong> That\u2019s what Al Mal<\/a> reported yesterday, citing \u201cwell informed sources\u201d as saying that the company had acquired all of the company\u2019s shares for EGP 2 bn. Ashry Steel Chairman Ayman El Ashry denied the report<\/strong> when we approached him for comment yesterday. \u201cThe transaction remains under discussion, which has reached an advanced stage,\u201d he told us. Arco Steel is 80% owned by the National Bank of Egypt and the remaining 20% is distributed among state-affiliated entities such as the National Investment Bank, the Industrial Development Bank and Misr Ins. Talks on the acquisition have been ongoing since at least last summer<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vodafone Egypt makes first stake buys in Bee + Masary: Vodafone Egypt has acquired 10% stakes in e-payment platforms Bee and Masary, subsidiaries of non-banking financial services (NBFS) provider Ebtikar, according to a disclosure (pdf) filed to the EGX yesterday by Ebtikar parent company B Investments. The telecoms giant \u2014 which plans to eventually acquire […]<\/p>\n","protected":false},"author":1,"featured_media":546010,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[140,139,138,72,183,7128,1759,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-bee-smart-payment-solutions","tag-ebtikar","tag-enterpriseam","tag-fintech","tag-ma-watch","tag-masary","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"c26d2dd5-96fc-4c10-8661-8b0eb6c81a21","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/338.jpg","photo_position":"above","related_issue":[546002],"teaser":"","voice_url":""},"yoast_head":"\nVodafone Egypt acquires 10% stake in Bee and Masary + setting the record straight on an Arco-Ashry Steel tieup - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/20\/vodafone-egypt-acquires-10-stake-in-bee-and-masary-setting-the-record-straight-on-an-arco-ashry-steel-tieup\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodafone Egypt acquires 10% stake in Bee and Masary + setting the record straight on an Arco-Ashry Steel tieup\" \/>\n<meta property=\"og:description\" content=\"Vodafone Egypt makes first stake buys in Bee + Masary: Vodafone Egypt has acquired 10% stakes in e-payment platforms Bee and Masary, subsidiaries of non-banking financial services (NBFS) provider Ebtikar, according to a disclosure (pdf) filed to the EGX yesterday by Ebtikar parent company B Investments. 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Vodafone will acquire the stakes through a capital increase. The acquisition comes\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/347.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564041,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/vodafone-egypt-wraps-up-due-diligence-on-bee-masary\/","url_meta":{"origin":546009,"position":1},"title":"Vodafone Egypt wraps up due diligence on Bee, Masary","author":"enterpriseam admin","date":"4 August 2021","format":false,"excerpt":"Vodafone Egypt completes due diligence on Bee + Masary: Vodafone Egypt has wrapped up its due diligence on e-payments platforms Bee and Masary, subsidiaries of non-banking financial services (NBFS) player Ebtikar, an unnamed source at Ebtikar told Enterprise this morning, confirming earlier reports in the local press. The telecoms giant\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560972,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/ebtikar-now-holds-80-of-bee-rx-healthcare-has-a-egp-1-bn-ma-pipeline\/","url_meta":{"origin":546009,"position":2},"title":"Ebtikar now holds 80% of Bee + Rx Healthcare has a EGP 1 bn M&A pipeline","author":"enterpriseam admin","date":"21 March 2021","format":false,"excerpt":"Ebtikar now holds 80% of Bee after acquiring an additional 20% stake in the company held by software services company Techno Beez. The EGP 40 mn transaction officially closed yesterday, Al Mal reports, citing unnamed sources. Ebtikar, which already held a 60% stake in Bee before the transaction, is now\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628133,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/26\/ebtikar-acquires-33-7-stake-in-masary\/","url_meta":{"origin":546009,"position":3},"title":"Ebtikar acquires 33.7% stake in Masary","author":"enterpriseam admin","date":"26 June 2018","format":false,"excerpt":"M&A WATCH- Ebtikar acquires 33.7% stake in payments outfit Masary: Ebtikar for Financial Investment, a joint venture between B Investments and MM Group, acquired a 33.7% stake in e-payments firm Masary in a transaction worth EGP 130 mn, Ebtikar said in a statement on Monday (pdf). The transaction on Masary,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":615386,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/18\/vodafone-egypt-gets-cbe-approval-to-up-stake-in-fintech-platform-basata\/","url_meta":{"origin":546009,"position":4},"title":"Vodafone Egypt gets CBE approval to up stake in fintech platform Basata","author":"enterpriseam admin","date":"18 February 2024","format":false,"excerpt":"Vodafone acquired its existing 10% stake in the firm in 2022","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1615.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542551,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/03\/ebtikar-ups-stake-in-bee-to-99-9-through-share-swap\/","url_meta":{"origin":546009,"position":5},"title":"Ebtikar ups stake in Bee to 99.9% through share swap","author":"enterpriseam admin","date":"3 January 2022","format":false,"excerpt":"Ebtikar ups stake in subsidiary Bee to 99.9% through share swap: Non-bank financial services player Ebtikar Financial Investments Holding has upped its stake in e-payments platform Bee to 99.9% from 60% via a share swap, its parent companies MM Group and B Investments said in EGX filings (here, pdf and\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/27.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546009"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546009\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546010"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546009"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546009"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}