PIF is eying local agri firm Daltex: Saudi Arabia’s Public Investment Fund (PIF), is in talks to acquire an unspecified minority stake in local agriculture firm Daltex Corporation through a capital increase, Al Mal reports, citing unnamed sources.

Still early stages: The talks are still in the early stages, and both sides are yet to reach an agreement or sign a contract, the sources added. If the acquisition goes through, Daltex will use the funds from the transaction to fund the company’s expansions, and finance its exports of production requirements.

Daltex? The agriculture player has been operating in the Egyptian market since 1964 and has established itself as a “ leading exporter of Egyptian potatoes and a fully-integrated player operating across all aspects of the agricultural value chain.”

Advisors: EFG Hermes is reportedly financial advisors to Daltex, while Matouk Bassiouny and Adsero Ragy Soliman & Partners are counsel.

Lots of demand from PIF: The fund’s wholly owned subsidiary the Saudi Egyptian Investment Company earlier this month submitted an offer to acquire up to 100% of EGX-listed CIRA Education, alongside CIRA majority shareholder.

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