{"id":546608,"date":"2022-05-23T04:00:57","date_gmt":"2022-05-23T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/"},"modified":"2022-05-23T04:00:57","modified_gmt":"2022-05-23T04:00:57","slug":"pif-eyes-united-bank-amid-state-privatization-push","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/","title":{"rendered":"PIF eyes United Bank amid state privatization push"},"content":{"rendered":"

<\/a> The Saudi sovereign wealth fund is considering making a bid to acquire United Bank<\/strong>, Hapi Journal<\/a> reported yesterday, citing sources it claims have knowledge of the transaction. The Public Investment Fund\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support measures to help shore up Egypt\u2019s fiscal position amid global volatility triggered by the war in Ukraine. Execs at United Bank declined to comment yesterday when we reached out.<\/p>\n

SOUND SMART- <\/strong>The Central Bank of Egypt holds 99.9% of United Bank, which it created in 2006 through the merger of smaller entities near the end of its well-regarded cleanup of the banking sector nearly two decades ago.<\/p>\n

Is the transaction part of the promised USD 10 bn from the KSA? <\/strong>Saudi and Egypt inked an agreement in March that would see the sovereign fund invest up to USD 10 bn<\/a> in our healthcare, education, agriculture and financial services sectors. No further details have yet been released on which assets PIF is targeting.<\/p>\n

Five years in the making:<\/strong> In 2017, the CBE said it intended to sell the bank<\/a> to a strategic investor and appointed EFG Hermes and New York\u2019s Evercore to advise on the transaction, before the covid-19 pandemic put the sale on ice<\/a>.<\/p>\n

PIF likes our banking sector:<\/strong> The Saudi fund has strong interest in the Egyptian financial sector due to its resilience in the face of back-to-back crises, Hapi quotes its sources as suggesting.<\/p>\n

They\u2019re not the only ones:<\/strong> Financial services firms have also been a key target for Abu Dhabi wealth fund ADQ<\/a>, which bought a 17.15% stake in leading private sector bank CIB, and an 11.8% stake in fintech player Fawry as part of a USD 2 bn investment<\/a> agreed in March.<\/p>\n

And the gov\u2019t is in selling mode: <\/strong>The government\u2019s recently unveiled privatization strategy aims to raise USD 10 bn annually over the next four years<\/a> by selling stakes in state-owned assets to local and international investors. The state hopes to double the private sector\u2019s role in the economy over the next three years in a bid to attract bns of USD of fresh foreign investment into the country.<\/p>\n

UB isn\u2019t the only state-owned bank earmarked for (at least partial) privatization: <\/strong>The government has also had plans to sell a stake in Banque du Caire for years, and could go ahead with its long-awaited IPO later this year<\/a>.<\/p>\n

ADVISORS:<\/strong> CI Capital is reportedly acting as UB's advisor, according to Hapi\u2019s sources.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Saudi sovereign wealth fund is considering making a bid to acquire United Bank, Hapi Journal reported yesterday, citing sources it claims have knowledge of the transaction. The Public Investment Fund\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support […]<\/p>\n","protected":false},"author":1,"featured_media":546609,"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":[7363],"tags":[136,84,72,7128,1389,219,7193],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-ci-capital","tag-efg-hermes","tag-enterpriseam","tag-ma-watch","tag-pif","tag-saudi-arabia","tag-united-bank","wpautop","entry"],"acf":{"mongo_id":"9e98a9ec-3435-4759-a016-9f13d3dff520","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/294.jpg","photo_position":"above","related_issue":[546602],"teaser":"","voice_url":""},"yoast_head":"\nPIF eyes United Bank amid state privatization push - 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\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF eyes United Bank amid state privatization push\" \/>\n<meta property=\"og:description\" content=\"The Saudi sovereign wealth fund is considering making a bid to acquire United Bank, Hapi Journal reported yesterday, citing sources it claims have knowledge of the transaction. The Public Investment Fund\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-23T04:00:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PIF eyes United Bank amid state privatization push\",\"datePublished\":\"2022-05-23T04:00:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\"},\"wordCount\":430,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1\",\"keywords\":[\"CI Capital\",\"EFG Hermes\",\"EnterpriseAM\",\"M&A Watch\",\"PIF\",\"Saudi Arabia\",\"United Bank\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\",\"name\":\"PIF eyes United Bank amid state privatization push - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-05-23T04:00:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PIF eyes United Bank amid state privatization push\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"PIF eyes United Bank amid state privatization push - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/","og_locale":"en_US","og_type":"article","og_title":"PIF eyes United Bank amid state privatization push","og_description":"The Saudi sovereign wealth fund is considering making a bid to acquire United Bank, Hapi Journal reported yesterday, citing sources it claims have knowledge of the transaction. The Public Investment Fund\u2019s play for UB comes amid a backdrop of an influx of investment from our friends in the Gulf, part of a raft of support […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-05-23T04:00:57+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"PIF eyes United Bank amid state privatization push","datePublished":"2022-05-23T04:00:57+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/"},"wordCount":430,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1","keywords":["CI Capital","EFG Hermes","EnterpriseAM","M&A Watch","PIF","Saudi Arabia","United Bank"],"articleSection":["M&A WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/","name":"PIF eyes United Bank amid state privatization push - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1","datePublished":"2022-05-23T04:00:57+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/pif-eyes-united-bank-amid-state-privatization-push\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"PIF eyes United Bank amid state privatization push"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/294.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":548410,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/","url_meta":{"origin":546608,"position":0},"title":"Saudi wealth fund could acquire United Bank this year, appoints advisers on transaction","author":"enterpriseam admin","date":"8 August 2022","format":false,"excerpt":"Saudi Arabia\u2019s sovereign wealth fund could purchase United Bank from the Central Bank of Egypt (CBE) before the end of the year, according to Hapi Journal. The Public Investment Fund (PIF) is close to wrapping up due diligence on the bank and the acquisition is expected to be finalized by\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578012,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/saudi-sovereign-wealth-fund-could-finalize-united-bank-acquisition-this-year\/","url_meta":{"origin":546608,"position":1},"title":"Saudi sovereign wealth fund could finalize United Bank acquisition this year","author":"enterpriseam admin","date":"13 December 2022","format":false,"excerpt":"PIF could acquire United Bank this month for USD 600 mn: Saudi Arabia\u2019s sovereign wealth fund could acquire the state-owned United Bank for around USD 600 mn as soon as this month, Bloomberg reports, citing sources with knowledge of the matter. The Public Investment Fund (PIF) is in \u201cadvanced talks\u201d\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/252.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581760,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/valuation-dispute-puts-saudi-united-bank-acquisition-at-risk\/","url_meta":{"origin":546608,"position":2},"title":"Valuation dispute puts Saudi United Bank acquisition at risk","author":"enterpriseam admin","date":"23 February 2023","format":false,"excerpt":"Saudi wealth fund takeover of United Bank in jeopardy? The Public Investment Fund (PIF) has reportedly hit \u2018pause\u2019 on talks for the acquisition of state-owned United Bank due to a dispute over its valuation, Bloomberg and Reuters reported yesterday, citing sources they claim are familiar with the matter. The two\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\/2023\/2\/PIF-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548772,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/saudi-wealth-fund-is-sizing-up-egyptalum-and-potentially-egyptian-media-production-city-united-bank\/","url_meta":{"origin":546608,"position":3},"title":"Saudi wealth fund is sizing up EgyptAlum \u2014 and potentially Egyptian Media Production City + United Bank","author":"enterpriseam admin","date":"22 August 2022","format":false,"excerpt":"Saudi Arabia\u2019s sovereign wealth fund is making headlines in Cairo with at least three possible high-profile acquisitions now appearing to be in its pipeline, including an aluminum maker, a bank and Egyptian Media Production City. The fund has not confirmed any of the three potential transactions.A stake in EgyptAlum? The\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/343.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603774,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/21\/updates-on-stake-sales-for-united-bank-bdc\/","url_meta":{"origin":546608,"position":4},"title":"Updates on stake sales for United Bank, BdC","author":"enterpriseam admin","date":"21 August 2023","format":false,"excerpt":"It\u2019s unclear whether PIF is still interested in United Bank","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\/2023\/8\/934.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546085,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/pif-subsidiary-ups-stake-in-egx-listed-rameda-el-garhy-buys-natl-glass-and-crystal-from-adib-egypt\/","url_meta":{"origin":546608,"position":5},"title":"PIF subsidiary ups stake in EGX-listed Rameda + El Garhy buys Nat\u2019l Glass and Crystal from ADIB Egypt","author":"enterpriseam admin","date":"27 April 2022","format":false,"excerpt":"Saudi PIF subsidiary ups stake in Rameda: The Saudi Seventh Investment Company (SSIC) has purchased another 6.5% of Rameda Pharma, raising its total stake to 11.01%, the EGX announced (pdf) yesterday. SSIC, a subsidiary of the Public Investment Fund (PIF, KSA\u2019s sovereign wealth fund), purchased 65 mn shares for EGP\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546608"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546608\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546609"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546608"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546608"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}