MM Group for Industry and International Trade (MTI) announced, on 26 February 2018, that a consortium including Ebtikar for Finance Investment Company (its non-banking and financial arm in which it owns 50%), with TCV and Aquire has signed an offer to purchase 100% of Orascom Development Egypt’s stake in Tamweel Group. Tamweel Group was valued for up to cEGP300mn, of which 10% is variable based in the company’s 2018 performance. The transaction is contingent upon the approval of Ebtikar’s BoD, and Orascom Development Egypt’s general assembly meeting, along with other regulatory entities. Tamweel Group consists of four companies that operate in leasing, mortgage finance, factoring, insurance brokerage and Collection.