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Beyoun subsidiary sale to Baraq owner
Beyon Group Bahrain announced the signing of an agreement to sell its subsidiary, Beyon Money, to Technology Union Holdings, the parent company of Baraq Saudi Arabia. Beyon will become a shareholder in Baraq after obtaining the necessary regulatory approvals. The deal includes Beyon Money’s operations in Bahrain and the UAE, such as payment services, card issuance, money transfers, and investment services. The transaction is expected to improve the company's financial position and comes amid a strong credit rating linked to its market position in the telecommunications and financial services sectors.
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