TOWN GAS TO SET UP NATGAS GRIDS IN ROMANIA: The Egyptian Company for Gas Distribution (Town Gas) will manage linking natural gas distribution grids in Romania, under a MoU signed with Romania-based natural gas delivery company Cis Gaz. The MoU will also see Town Gas locally manufacture and assemble pressure regulating stations (PRS) and pressure-reducing valves (PRV). The parties agreed to make these products available in the local market, rather than importing them, with future plans to gear the output towards exports. (Oil Ministry Statement)

A NEW INVESTMENT FUND TARGETING EGX-LISTED COMPANIES: Private equity firm Compass Capital is setting up an investment fund targeting stakes between 15-30% in EGX-listed companies — dubbed C3. The fund wants to reach a first close of EGP 2 bn, which will be used to invest in around six companies. It has already garnered the attention of CIB, Banque Misr, Midbank, and other unnamed institutions. The fund is awaiting FRA approval. (Al Mal)

RUSSIAN WHEAT SECURED: GASC has purchased 480k tons of Russian wheat during its latest tender. (Reuters)

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