Sovereign Fund of Egypt is in talks to acquire part of the National Investment Bank’s 69 percent stake in state-owned e-payments platform e-Finance, local press reported on Sunday citing sources with knowledge of the matter.
The sources suggested that the fund is looking to acquire a controlling stake in e-Finance, without determining an exact size.
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The potential acquisition will be part of the Egyptian fund’s plans to expand its investments in the non-banking financial services sector, the sources added.
The acquisition is expected to close in the first half of the year.
