A&O advises e& enterprise on its acquisition of a majority stake in P2P lending platform Beehive Group

Allen & Overy has advised e& enterprise on its acquisition of a majority stake in Beehive Group, a peer-to-peer (P2P) lending platform. The acquisition (which is subject to customary regulatory approvals) will enable e& enterprise to broaden and enhance its core value proposition in several digital adjacent verticals.

Beehive Group is an online digital marketplace lender for P2P term debt finance in the UAE and is operating a bank partnership model in Saudi Arabia and Oman. It became the first regulated P2P platform across MENA in March 2017 and is one of the only fully operational and regulated P2P platforms in the GCC.

e& enterprise (formerly known as Etisalat Digital) is part of e&, which is listed on the ADX and is a leading ICT and telecommunications group. Operating in 16 countries across the Middle East, Asia and Africa, with decades of experience starting in the UAE as the country’s first telecoms company, e& delivers advanced B2B solutions using the latest technologies including cloud, IoT and AI industry solutions, cybersecurity, big data and analytics. e& is based on a successful model combining the strength and reach of a telecommunications company with the agility and expertise of a digital player.

Corporate partner Ben Ward, who led the Allen & Overy team commented, “Acting for e& enterprise on this acquisition is a testament to A&O’s ability to deliver innovative strategic transactions with some of the region’s most high profile and exciting technology businesses. We are proud to have represented e& enterprise on such a strategic transaction, as part of their journey to create a digitally brighter future.”