Cairo – Mubasher: MM Group for Industry and International Trade announced that Ebtikar for Financial Investment has acquired an additional stake of 4.83% in Masary, a smart payment system company, for EGP 21.4 million.

Accordingly, the leading investor in the non-banking financial services sector in Egypt has raised its stake in Masary to 59.67% from 54.84%, MM Group said in a statement to the Egyptian Exchange (EGX) on Monday.

This deal will raise MM Group’s stake in Masary to 41% from 40%.

It is noteworthy that Ebtikar is a joint venture between B Investments Holdings and MM Group.