{"id":545594,"date":"2022-04-05T03:55:25","date_gmt":"2022-04-05T03:55:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/"},"modified":"2022-04-05T03:55:25","modified_gmt":"2022-04-05T03:55:25","slug":"pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/","title":{"rendered":"PIF could invest in Al Wataniya, Siemens power plants + ADQ could buy stakes in unlisted Egyptian firms -Soliman"},"content":{"rendered":"

<\/a> Wataniya + Siemens power plants on the table for Saudi PIF:<\/strong> Saudi Arabia\u2019s sovereign wealth fund could take stakes in military-owned Wataniya Petroleum (a national operator of filling stations) and the three Siemens-built power plants<\/a> as part of its proposed USD 10 bn investment<\/a> in Egypt, the head of Egypt\u2019s wealth fund said yesterday. The Sovereign Fund of Egypt (SFE) is offering both companies to the Public Investment Fund (PIF), which is looking at green- and brownfield projects in Egypt\u2019s healthcare, education, agriculture and financial services sectors, SFE head Ayman Soliman told Al Arabiya TV (watch, runtime: 9:45<\/a>).<\/p>\n

The sale of some or all of Wataniya has attracted significant investor interest <\/strong>for more than a year<\/a>, while there has been talk of selling stakes in the power plants going back to 2019 when the SFE was first established. The fund has in the past suggested that it could acquire significant minority stakes in both as a prelude to their sale.<\/p>\n

The news comes as ministers <\/strong>are scheduled to meet<\/a><\/strong> this week to discuss which state-owned companies will be offered on the EGX this year.<\/strong> The government is reviewing the program \u201cin light of recent developments,\u201d with an eye to offer four to five companies during 2022 in the energy, ins. and financial sectors. The government had originally aimed to sell shares in as many as 10 firms<\/a> in 2022, but the deteriorating global market conditions have forced it to rethink its plans.<\/p>\n

ALSO FROM THE SFE BOSS- Abu Dhabi wealth fund ADQ could acquire stakes in both listed and unlisted Egyptian companies as part of its investment in Egypt<\/strong>, Soliman told the broadcaster. The investment would come as a move of support, especially to companies that are preparing to list on the EGX, with details set to be announced within days, Soliman said.<\/p>\n

Refresher:<\/strong> Bloomberg reported last month that ADQ could acquire state-held stakes in five EGX-listed companies: private firms CIB and Fawry<\/a>, and state-owned Abu Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling<\/a>. The planned acquisitions are part of a USD 2 bn investment to shore up Egypt\u2019s finances amid surging food and energy prices.<\/p>\n

Our GCC neighbors have <\/strong>recently stepped up<\/a><\/strong> M&A, investment and (in the case of KSA) deposits at the central bank. <\/strong><\/p>\n

It goes both ways: <\/strong>The SFE also plans to invest in Saudi Arabia\u2019s fintech and financial inclusion sectors, Soliman told the news channel, without disclosing the size or value of the investments it plans to make.<\/p>\n

OTHER INVESTMENT NEWS- <\/strong><\/p>\n

Mexican concrete giant Cemex could cut back on spending in Egypt and the UAE this year due<\/strong> to the war in Ukraine, the company\u2019s Egypt and UAE CEO Carlos Emilio Gonzalez told Bloomberg Asharq<\/a>. The company could now invest USD 10-15 mn in 2022, down from a planned USD 20 mn<\/a>, he said, adding that some investments could be delayed to next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wataniya + Siemens power plants on the table for Saudi PIF: Saudi Arabia\u2019s sovereign wealth fund could take stakes in military-owned Wataniya Petroleum (a national operator of filling stations) and the three Siemens-built power plants as part of its proposed USD 10 bn investment in Egypt, the head of Egypt\u2019s wealth fund said yesterday. The […]<\/p>\n","protected":false},"author":1,"featured_media":545595,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[299,1613,1555,72,125,1389,219,484],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-adq","tag-al-wataniya","tag-cemex","tag-enterpriseam","tag-investment-watch","tag-pif","tag-saudi-arabia","tag-siemens","wpautop","entry"],"acf":{"mongo_id":"7db46eae-b7d1-4b4b-8b2f-83a473b0aed7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/125.jpg","photo_position":"above","related_issue":[545590],"teaser":"","voice_url":""},"yoast_head":"\nPIF could invest in Al Wataniya, Siemens power plants + ADQ could buy stakes in unlisted Egyptian firms -Soliman - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF could invest in Al Wataniya, Siemens power plants + ADQ could buy stakes in unlisted Egyptian firms -Soliman\" \/>\n<meta property=\"og:description\" content=\"Wataniya + Siemens power plants on the table for Saudi PIF: Saudi Arabia\u2019s sovereign wealth fund could take stakes in military-owned Wataniya Petroleum (a national operator of filling stations) and the three Siemens-built power plants as part of its proposed USD 10 bn investment in Egypt, the head of Egypt\u2019s wealth fund said yesterday. 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Plus: Shoukry joins Arab League diplomacy push in Russia","author":"enterpriseam admin","date":"4 April 2022","format":false,"excerpt":"Good afternoon, ladies and gentlemen. We thought we were doing well during Ramadan without incessant caffeinating, but we also just realized it\u2019s only Monday. The best antidote? Some positive business news, courtesy of our friends in the GCC showcasing plenty of appetite for stake purchases here in Egypt.THE BIG STORY\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553604,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/","url_meta":{"origin":545594,"position":1},"title":"SFE is pushing ahead with Siemens stake sale + privatizing military businesses","author":"enterpriseam admin","date":"9 December 2021","format":false,"excerpt":"Updates on the Siemens power plants + military companies\u2019 privatization from the SFE: The Sovereign Fund of Egypt (SFE) and the Electricity Ministry are nearly done with studies on how best to move forward with a stake sale in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plant,\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/26\/siemens-built-power-plant-among-usd-3-bn-assets-to-join-the-pre-ipo-fund-within-weeks\/","url_meta":{"origin":545594,"position":2},"title":"Siemens-built power plant among USD 3 bn assets to join the pre-IPO fund within weeks","author":"enterpriseam admin","date":"26 September 2022","format":false,"excerpt":"Gov\u2019t wants to raise USD 6 bn from stake sales by mid-2023: The Madbouly government expects to raises as much as USD 6 bn by selling stakes in state-owned assets by mid-2023, Planning Minister and Sovereign Fund of Egypt (SFE) Chair Hala El Said told Bloomberg in an interview in\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547048,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/finmin-sfe-get-the-ball-rolling-on-stake-sale-program-interest-from-saudis-pif-looks-serious\/","url_meta":{"origin":545594,"position":3},"title":"FinMin, SFE get the ball rolling on stake sale program + interest from Saudi\u2019s PIF looks serious","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"Madbouly calls on FinMin to get the ball rolling on state privatization program: Prime Minister Moustafa Madbouly has directed the Finance Ministry to update its plan for the state privatization program. Madbouly\u2019s instructions came in a meeting on Sunday with members of his cabinet meant to move forward President Abdel\u2026","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577972,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/12\/gulf-sovereign-funds-are-bidding-for-egypt-desalination-plants\/","url_meta":{"origin":545594,"position":4},"title":"Gulf sovereign funds are bidding for Egypt desalination plants","author":"enterpriseam admin","date":"12 December 2022","format":false,"excerpt":"Gulf sovereign wealth funds are among 28 bidders vying for contracts to build the 21 desalinationplants the government is tendering to the private sector, Atter Hannoura, director of the Finance Ministry\u2019s PPP unit, told Enterprise. 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