Egyptian “MNT Hala” fully acquires Turkish “Tam Finans” for investments

MNT-Halan acquired the company from Turkey’s Actera Private Equity Group and the European Bank for Reconstruction and Development.

“Today, the Turkish company Tam Finans joins the MNT-Hala family to provide innovative digital financial services to millions of companies and individuals in the Turkish market. Combining the expertise and capabilities of both Tam Finans and MNT-Hala will provide double growth opportunities and the ability to start providing new services for our company in Turkey. Tam Finans has established electronic credit assessment programs and has a distribution network across 26 provinces that enables it to provide its services throughout the country, in addition to a reliable management team to achieve our goals in Turkey and neighboring countries,” said Mounir Nakhleh, Chairman and CEO of MNT-Hala.

“We are delighted to become part of the MNT-Hala family, an Egyptian company that believes that making financial services available to individuals and businesses provides them with greater opportunities to achieve their dreams, which is in line with the principles on which our company was founded,” said Hakan Karamanli, CEO of Tam Finans.

The acquisition of the Turkish company comes shortly after MNT-Halan expanded into Pakistan and the UAE. MNT-Halan raised $157.5 million from the International Finance Corporation (IFC) in addition to existing shareholders, including Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate, and GB Corp.

Source: RT