Cairo, 20 April 2022- Press Release by Zaki Hashem & Partners, Attorneys at Law


Zaki Hashem & Partners advised Ebtikar and undertook the procedures of Vodafone’s subscription in Bee and Masary

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