Abu Dhabi-listed Two Point Zero Group, a newly merged entity following Multiply Group’s acquisition of Ghitha Holding and 2Point, has increased its ownership in Maseera to 100%.

The company’s subsidiary, E Point Zero Holding Limited, acquired the remaining 5% stake in Maseera, effectively making the firm a wholly-owned entity, Two Point confirmed on Tuesday.

Following the transaction, Amro Abouesh has stepped down from his position as CEO and founder of Maseera.

The acquisition deal was executed through E Point Zero Holding’s fully-owned unit Lumen Aegis Enterprises, which previously held 95% of Maseera.

Two Point said Maseera is being developed into a global, digital-first financial services provider powered by artificial intelligence (AI).

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com