BMIT Technologies plc has announced that it has entered into a Share Purchase Agreement with Emirates International Telecommunications (Malta) Limited (EITML) for the acquisition of a 49 per cent equity stake in Malta Properties Company plc (MPC)

BMIT Technologies is a subsidiary of GO plc, while Emirates International Telecommunications is a shareholder in both Malta Properties Company plc and GO plc.

The agreement is valued at €25.3 million, and the acquisition, subject to regulatory and shareholder approvals, will see BMIT Technologies purchase 49,642,139 ordinary shares in MPC at €0.51 per share. This shareholding represents nearly half of MPC’s issued capital and includes key infrastructure assets that support Malta’s telecommunications and technology sectors.

Speaking about the agreement, Nikhil Patil, Chairman of BMIT Technologies and CEO of GO plc, the parent company of BMIT Technologies, stated: "This acquisition aligns perfectly with our long-term vision of integrating digital infrastructure with technology-driven services.”

MPC owns and manages a portfolio of commercial properties, many of which are essential for telecoms and ICT operations. The deal is expected to deliver added value through diversification of revenue streams and increased financial stability.

Christian Sammut, CEO of BMIT Technologies, commented: "By acquiring a substantial shareholding in MPC, we are not just investing in property – we are investing in the infrastructure that underpins Malta’s digital future."

The transaction is contingent on several conditions precedent, including the necessary  regulatory clearances, and  shareholder approval. These conditions are expected to be fulfilled by the end of 2025.

BMIT Technologies anticipates that this acquisition will further reinforce its strategic positioning as a leading provider of digital infrastructure and cloud-based services, complementing its existing service portfolio with physical infrastructure ownership.

The Board of Directors of BMIT Technologies has unanimously approved the transaction following a detailed review by the Audit Committee, in line with Capital Markets Rules governing related party transactions.