Mashreq completes $385m sale of majority stake in Neopay
DUBAI, 1 days ago
Mashreq, one of the MENA region’s leading financial institutions, has announced the completion of the sale of a majority stake in Neopay, the UAE’s fast-growing digital payments leader.
As previously announced on September 13, 2024, DgPays, a leading financial infrastructure technology provider in the EMEA region and Arcapita Group Holdings Limited, a global alternative investment firm, had agreed to acquire the stake.
Mashreq retains a significant minority stake in Neopay, underscoring its commitment to supporting the company’s continued growth. This strategic partnership represents a milestone for Neopay as it aims to scale its operations, enter new markets, and enhance its innovative service offerings across the Middle East, said a statement.
The completion of this transaction signifies a shared commitment between Mashreq, DgPays, and Arcapita to drive innovation, fostering growth, and shaping the future of digital payments across the region, it said. -TradeArabia News Service
