The ordinary general meeting (OGM) of Fawry for Banking Technology and Electronic Payments has approved to purchase the stake of Banque Misr in Fawry Plus for Banking Services.
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Fawry seeks to acquire Banque Misr’s 14 million shares in Fawry Plus, representing 14.98% of its capital valued at EGP 1.15 per share, according to a bourse filing on Monday.
Meanwhile, the OGM has agreed on authorising the board to sign a contract to buy the 14.98% stake of the Commercial International Bank – Egypt (CIB) in Fawry plus.
