(Ebtikar) approved Wednesday to acquire 20 percent of TBE Egypt for Payment Solutions and Services (Bee) which was owned by Technobiz Equipments PTE. This step comes for the purpose of preparing for the listing of Ebtikar on the Egyptian Stock Exchange (EGX). Subsequently, Ebtikar’s ownership of the company increases from its current stake of 60 percent to reach 80 percent, and allowing Technobiz Equipments PTE. 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 for industry and International Trade (MTI) holds a 49.9 percent stake in Ebtikar.

Source: Egypt Today February 24, 2021 12:33 UTC