Fawry for Banking Technology and Electronic Payments S.A.E. agreed to acquire 29.96% stake in Fawry Plus from Commercial International Bank S.A.E and Banque Misr (S.A.E.).

Fawry for Banking Technology and Electronic Payments S.A.E. (CASE:FWRY) agreed to acquire 29.96% stake in Fawry Plus from Commercial International Bank (Egypt) S.A.E (CASE:COMI) and Banque Misr (S.A.E.) on August 2, 2021. As per the transaction, Commercial International Bank (Egypt) S.A.E will its 14.98% stake in Fawry Plus and Banque Misr will sell its 14 million shares in Fawry Plus, representing 14.98% of its capital valued at EGP 1.15 per share. The ordinary general meeting of Fawry for Banking Technology and Electronic Payments approved to purchase the stake of Banque Misr and CIB in Fawry Plus.