Wataniya stake sale racks up seven bids: State-owned fuel retailer Wataniya has received seven international and local acquisition offers, Planning Minister Hala El Said told Asharq Business. The government is filtering the offers for the long-awaited stake sale and will select one soon.

That’s more than double the offers than we knew of: Last we heard, there were three finaloffers remaining on the table for a 30% stake in the company, according to unconfirmed local media reports in February, and Prime Minister Moustafa Madbouly held a meeting a week later to assess the final offers submitted. Taqa Arabia is the only firm to have publicly declared interest in the filling station operator.

THE SFE’S INDUSTRY SUB-FUND IS MONTHS AWAY-

SFE’s industry sub-fund to launch in July: The government is working with seven local investors across different industries to launch the Sovereign Fund of Egypt’s (SFE) industry-focused sub-fund, Fund chair El Said told Al Masdar yesterday. The government plans to launch the sub-fund in July, she added.

What industries? The government is currently in talks with investors in the food, engineering, and building materials industries, as well as those working in industries that can feed into the National Egyptian Railway Industries Company’s (NERIC) manufacture of railway and train supplies. Discussions are set to wrap up in June, just before the fund’s launch.

Remember: The SFE will be touring the Gulf next month to drum up investment. The fund will meet with investors, financial institutions, and other sovereign funds to discuss potential investments on offer.

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