{"id":321251,"date":"2021-02-25T13:19:05","date_gmt":"2021-02-25T13:19:05","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321251"},"modified":"2021-02-25T13:19:05","modified_gmt":"2021-02-25T13:19:05","slug":"fawry-is-eyeing-cib-banque-misrs-stakes-in-fawry-plus","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/02\/25\/fawry-is-eyeing-cib-banque-misrs-stakes-in-fawry-plus\/","title":{"rendered":"Fawry is eyeing CIB + Banque Misr\u2019s stakes in Fawry Plus"},"content":{"rendered":"<p>E-payment giant Fawry is the process of acquiring 86 percent of Fawry Plus Banking Services after Fawry\u2019s board of directors given the green light to the company to move ahead with negotiations to capture a 48% percent stake in Fawry Plus.<\/p>\n<p>Fawry already owns 38% of \u00a0Fawry Plus and seeks to put its hands on the 48 percenct owned by Commercial international bank and Banque Misr.<\/p>\n<p>The acquisition, which is valued at 32 million Egyptian pounds in total, would see Fawry acquiring CIB\u2019s 23.5 percent stake and Banque Misr\u2019s 24.5 percent stake in its subsidiary, Fawry CEO Ashraf Sabry tld local press<\/p>\n<p>The subsidiary is eyeing rapid expansion: FawryPlus Banking Services is looking to almost quintuple its branch count to 300 from 65 currently.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-payment giant Fawry is the process of acquiring 86 percent of Fawry Plus Banking Services after Fawry\u2019s board of directors given the green light to the company to move ahead with negotiations to capture a 48% percent stake in Fawry Plus.<\/p>\n","protected":false},"author":4,"featured_media":320363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-321251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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