BMIT Technologies signs agreement to acquire 49% stake in Malta Properties Company plc
The transaction is contingent on several conditions precedent, including the necessary regulatory clearances, and shareholder approval
by Paul Cocks
BMIT Technologies plc has today announced that it has entered into a Share Purchase Agreement with Emirates International Telecommunications (Malta) Limited (EITML) for the acquisition of a 49% equity stake in Malta Properties Company plc (MPC), a leading player in Malta’s commercial property market. The agreement, valued at €25.3 million, marks a strategic move by BMIT Technologies to further strengthen its footprint in Malta’s digital infrastructure landscape.
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. It enables us to secure a stronger and more direct influence over critical digital infrastructure. By expanding our presence in this space, we are enhancing our ability to support Malta’s digital economy in a sustainable and resilient manner."
MPC owns and manages a strategic 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: "This is a transformative step for BMIT Technologies. 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 combination of our technical expertise with MPC’s asset base presents new opportunities for synergies, innovation, and long-term growth."
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 company’s move also underscores its commitment to long-term value creation for shareholders and stakeholders alike.
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.
