ZH advises Ebtikar on Vodafone’s subscription in Bee and Masary

Zaki Hashem is happy to announce that it has successfully advised Ebtikar Holding for Financial Investments SAE (“Ebtikar”) in relation to the subscription by Vodafone Egypt Telecommunications (“Vodafone”) in a capital increase at par value in the Share Capital of TBE Egypt for Payment Solutions and Services SAE (“Bee”) and Applications & Payment Systems Development APSD (“Masary”) (both, subsidiaries of Ebtikar) - and the Firm has independently undertaken and completed all relevant corporate procedures. Accordingly, Vodafone’s ownership stake in each company has now reached 9.99% while Ebtikar’s ownership stake has now reached 90.01% in Bee and 63.64% in Masary.

Zaki Hashem advised Ebtikar on how best to structure the Transaction and worked on and negotiated all relevant documentation up to closing.