Global law firm Allen & Overy has provided legal counsel to e& enterprise on its recent acquisition of a majority stake in Beehive Group, a prominent peer-to-peer (P2P) lending platform. This strategic move by e& enterprise, pending customary regulatory approvals, aims to expand and enrich its core value proposition within various digital adjacent verticals.
Beehive Group operates as an online digital marketplace lender for P2P term debt finance in the United Arab Emirates (UAE) and follows a bank partnership model in Saudi Arabia and Oman. It made history in March 2017 by becoming the first regulated P2P platform in the MENA region and stands as one of the few fully operational and regulated P2P platforms in the Gulf Cooperation Council (GCC).
e& enterprise, previously known as Etisalat Digital, operates as a subsidiary of e&, a leading ICT and telecommunications group listed on the Abu Dhabi Securities Exchange (ADX). With a strong presence in 16 countries across the Middle East, Asia, and Africa, e& boasts decades of experience, having been the UAE’s first telecoms company.
By acquiring a majority stake in Beehive Group, e& enterprise aims to strengthen its position in the market and expand its digital offerings across multiple sectors.
Corporate Partner Ben Ward (pictured) led the Allen & Overy team comprising of senior associate Grace Hunt and associate Marek Bojkovsky.