ArabFinance: Vodafone Egypt has subscribed in a capital hike at nominal value in e-payment platforms Bee and Masary, raising its stakes in each of the companies to 9.99%, according to an emailed press release on April 19th.
Bee and Masary are owned by Ebtikar Holding for Financial Investments, which is a joint-venture between MM Group for Industry and International Trade (MTI) (MTIE) and B Investments Holding (BINV).
Ebtikar’s stake in Bee and Masary reached 90.01% and 63.64%, respectively.
It is worth noting that MTI holds a 40.5% stake in Ebtikar.
Established in 2006, B Investments is an Egypt-based private equity firm and growth capital investor that pulls a wealth of expertise to actively create value in its portfolio companies.
MTI is one of the leading distribution companies by geographic coverage in Egypt, with access to more than 40,000 points of sale.
The Egyptian joint stock Company operates in a wide range of businesses, including consumer electronics, telecommunication, automotive, seamless pipes, and tractors through partnerships with leading global brands including Samsung, Vodafone, Huawei, Range Rover, Jaguar, Maserati, Bentley, Carrier and Bosch.