EGX-listed private equity firm B Investments intends to invest EGP 2 bn in the healthcare and food sectors in 2023, Chairman Hazem Barakat reportedly told Bloomberg Asharq. The company hopes to close an acquisition of a healthcare company in 1Q 2023, while the transaction in the food sector is expected to be completed in 2Q, he is quoted as saying.

Exits are funding the acquisitions: B Investments will reportedly fund the new investments with some of the proceeds of its exit from TotalEnergies Egypt and Giza Systems. The company is selling down its 44.7% stake in Giza Systems to a subsidiary of Saudi Telecom (STC) for USD 128 mn, and last month agreed to offload its 6.4% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn.

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