24 Hrs
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المصري اليوم
II-E Finance finalizes Tamweely stake
E-Finance for Financial and Digital Investments has approved a transaction to acquire approximately 99.32% of the shares of Tamwely for Financial Services. The financial structure of the deal includes an initial cash payment of about 956 million Egyptian pounds, along with a contingent deferred payment based on achieving key performance indicators in 2028. Additionally, 146 million new shares will be issued to complete the exchange, representing roughly 1 share for every 65 shares purchased in Tamwely. This step is part of its strategy to strengthen its presence in the financial market, following the Board of Directors' approval of the valuation of both shares and the authorization to publish the independent financial reports.
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