Abu Dhabi – Mubasher: e&, formerly known as Etisalat Group, concluded the acquisition of a 63.30% majority stake in Beehive Group Holdings Limited for $23.60 million, according to a bourse statement.

Accordingly, Beehive will be included in e&’s financial results starting from August 2023.

Noteworthy to mention that Beehive is a leading regulated peer-to-peer (P2P) lending platform in the GCC area.

It is worth noting that e& enterprise signed a binding agreement in May 2023 to hold a majority stake in Beehive.

Recently, e& partnered with PPF Group to grow its business in central and southeastern Europe, excluding the Czech Republic.