{"id":564041,"date":"2021-08-04T13:39:44","date_gmt":"2021-08-04T13:39:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/vodafone-egypt-wraps-up-due-diligence-on-bee-masary\/"},"modified":"2021-08-04T13:39:44","modified_gmt":"2021-08-04T13:39:44","slug":"vodafone-egypt-wraps-up-due-diligence-on-bee-masary","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/vodafone-egypt-wraps-up-due-diligence-on-bee-masary\/","title":{"rendered":"Vodafone Egypt wraps up due diligence on Bee, Masary"},"content":{"rendered":"

<\/a> Vodafone Egypt completes due diligence on Bee + Masary<\/strong>: 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<\/a>. The telecoms giant wants to acquire a 20% stake in both firms<\/a>, and kicked off due diligence earlier this year. The company plans to acquire the shares through a capital increase under the terms of an MoU signed with Ebtikar in February.<\/p>\n

What\u2019s next?<\/strong> The company is awaiting regulatory approval from the Financial Regulatory Authority and the central bank, which is expected to be obtained within days.<\/p>\n

Who owns what?<\/strong> Ebtikar holds a 72% stake in Masary, with the remainder owned by Bahrain\u2019s Sadad. Bee is a 60%-owned subsidiary<\/a> of Ebtikar, with the remainder held by two other investors including Techno Beez. Ebtikar raised its stake in Bee to 80%<\/a> earlier this year by purchasing Techno Beez\u2019s 20% shareholding. Ebtikar, which is planning an IPO<\/a> in 4Q2021, is a joint venture between B Investments, BPE Partners and MTI.<\/p>\n

Advisors<\/strong>: Zaki Hashem & Partners is advising Ebtikar, while Alliance Law Firm is providing counsel to Vodafone on the transaction.<\/p>\n

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

Remco subsidiary receives EGP 350 mn bid: <\/strong>Tourism developer Remco said in an EGX<\/a>statement (pdf)<\/a> this morning that Atrees Group Chairman Al Sayed Atrees Mohamed, alongside two other investors, aim to acquire up to 100% of its Empain Tourism Investments subsidiary for EGP 350 mn. This is slightly higher than the recent EGP 347.7 mn fair valuation<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 wants to acquire a 20% […]<\/p>\n","protected":false},"author":1,"featured_media":564042,"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":[139,633,7128,1759,1292],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-bee-smart-payment-solutions","tag-enterprisepm","tag-ma-watch","tag-masary","tag-remco-group","wpautop","entry"],"acf":{"mongo_id":"06aaceb8-c347-48c0-83bd-16015aaa2b23","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/362.jpg","photo_position":"above","related_issue":[564037],"teaser":"","voice_url":""},"yoast_head":"\nVodafone Egypt wraps up due diligence on Bee, Masary - 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\/2021\/08\/04\/vodafone-egypt-wraps-up-due-diligence-on-bee-masary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodafone Egypt wraps up due diligence on Bee, Masary\" \/>\n<meta property=\"og:description\" content=\"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. 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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":546009,"url":"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\/","url_meta":{"origin":564041,"position":1},"title":"Vodafone Egypt acquires 10% stake in Bee and Masary + setting the record straight on an Arco-Ashry Steel tieup","author":"enterpriseam admin","date":"20 April 2022","format":false,"excerpt":"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\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\/4\/338.jpg?fit=%2C&ssl=1&resize=350%2C200","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":564041,"position":2},"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":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":564041,"position":3},"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":615386,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/18\/vodafone-egypt-gets-cbe-approval-to-up-stake-in-fintech-platform-basata\/","url_meta":{"origin":564041,"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":575076,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/01\/ebtikar-receives-offers-for-stakes-in-e-payments-firms-bee-masary\/","url_meta":{"origin":564041,"position":5},"title":"Ebtikar receives offers for stakes in e-payments firms Bee, Masary","author":"enterpriseam admin","date":"1 October 2020","format":false,"excerpt":"M&A WATCH- Foreign, local investors eye stakes in fintech players Bee, Masary: Non-banking financial services outfit Ebtikar has received \u201cseveral\u201d offers from unnamed local and foreign investors for stakes in two of its subsidiaries, Bee smart payment solutions and Masary smart payment services, the local press reported, citing sources with\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\/2020\/10\/18.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\/564041","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=564041"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564041\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564042"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564041"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564041"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}