Cairo – Mubasher: Ebtikar for Financial Investment, a joint venture between B Investments Holdings and MM Group for Industry and International Trade, announced raising its stake in Masary by 10.1%.

The leading investor in the non-banking financial services sector in Egypt increased its stake in Masary which owns nearly 60,000 active points of sale (PoS) to 45.8% from 35.7% in a deal worth EGP 42 million, MM Group said in a statement to the Egyptian Exchange (EGX) on Monday.

This deal will increase MM Group’s stake in Masary to 35% from 29%.

Earlier, MM Group’s board of directors approved increasing its contribution to Ebtikar for Financial Investment’s capital by EGP 60 million to reach EGP 310 million.