E& Enterprise Acquires A Majority Stake In Dubai-based Peer To Peer Lending Platform Beehive

E& Enterprise Acquires A Majority Stake In Dubai-based Peer To Peer Lending Platform Beehive

e& enterprise, a part of Abu Dhabi-headquartered technology and telecom company e&, has signed a binding agreement to acquire a majority stake in Beehive, a Dubai-based regulated peer to peer lending platform for SMEs.

The acquisition demonstrates e& enterprise's commitment to open new avenues of growth across the UAE and in the region which is in line with the UAE's National Agenda for Entrepreneurship that aims to establish the country as an entrepreneurial nation by 2031.

The National reported that e& enterprise will acquire between 61% and 69% of Beehive at an enterprise value of USD$35 million.