{"id":549304,"date":"2022-09-12T04:00:17","date_gmt":"2022-09-12T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/"},"modified":"2022-09-12T04:00:17","modified_gmt":"2022-09-12T04:00:17","slug":"the-public-investment-what","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/","title":{"rendered":"The Public Investment what?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>AMOC responds to PIF rumors: <\/strong>Alexandria Mineral Oil Company (AMOC) has not received any information on the Saudi sovereign wealth fund\u2019s reported intention to acquire a minority stake in the company, it said in <a href=\"https:\/\/ent.news\/2022\/9\/AMOC-PIF.pdf\">a disclosure (pdf)<\/a> yesterday in response to reports in the local press. <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=10092022&id=249c7753-c7fe-4444-91ba-6346d9c9ab94\">Al Shorouk<\/a> reported on Saturday that the Public Investment Fund (PIF) is interested in acquiring stakes in several leading EGX-listed petrochemical companies, including AMOC, under its pledge earlier this year to invest USD 10 bn in the country.<\/p>\n<p><strong>Market reax:<\/strong> AMOC was up 1.67% to EGP 4.30 at market close.<\/p>\n<p><strong>The PIF has been linked to many companies \u2014 but the fund has been tight-lipped:<\/strong> Anonymously sourced press reports have also linked <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">Egyptalum<\/a> and Egyptian Media Production City (EMPC) to the PIF in recent weeks though none have been publicly confirmed by the parties involved, with the target companies either being tight-lipped, unclear or disregarding the news altogether.<\/p>\n<p><strong>Two transactions we are sure about:<\/strong> Sources have told us in recent weeks that the PIF is interested in purchasing shares in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c348db4f-7247-4ed9-a87a-4020be90920e\">Vodafone Egypt<\/a> and is in talks with the central bank to take over <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">United Bank<\/a>.<\/p>\n<p><strong>The PIF has already made a handful of acquisitions:<\/strong> The fund acquired in August <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">minority stakes<\/a> in four EGX-listed companies for USD 1.3 bn through its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358b6591-3db7-4fa1-bb2f-de2e69e31cc8\">newly established Egypt investment arm<\/a>. The shares it took in e-Finance, Mopco, Abu Qir, and Alex Containers are the first of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">USD 10 bn pledged<\/a>by the fund earlier this year as part of Saudi efforts to support Egypt\u2019s external position, which has been rocked by soaring commodity prices as well as outflows from our debt market, and a weaker EGP. Abu Dhabi wealth fund ADQ led with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4a11664-2159-45ba-ba2f-bf0d3dfd3978\">similar moves<\/a>, purchasing state-owned stakes in five companies for around USD 1.8 bn in April. There\u2019s talk that the Qatari sovereign fund is poised to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16d8e297-b643-4497-9e65-4ad4fef63817\">follow suit<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AMOC responds to PIF rumors: Alexandria Mineral Oil Company (AMOC) has not received any information on the Saudi sovereign wealth fund\u2019s reported intention to acquire a minority stake in the company, it said in a disclosure (pdf) yesterday in response to reports in the local press. Al Shorouk reported on Saturday that the Public Investment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549305,"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":[1133,72,7128,219,734],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-amoc","tag-enterpriseam","tag-ma-watch","tag-saudi-arabia","tag-sovereign-wealth-funds","wpautop","entry"],"acf":{"mongo_id":"3eb67451-ed3d-459b-ae82-b9a6756d29f5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/193.jpg","photo_position":"above","related_issue":[549296],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Public Investment what? - 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\/09\/12\/the-public-investment-what\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Public Investment what?\" \/>\n<meta property=\"og:description\" content=\"AMOC responds to PIF rumors: Alexandria Mineral Oil Company (AMOC) has not received any information on the Saudi sovereign wealth fund\u2019s reported intention to acquire a minority stake in the company, it said in a disclosure (pdf) yesterday in response to reports in the local press. Al Shorouk reported on Saturday that the Public Investment [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-12T04:00:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/193.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\/09\/12\/the-public-investment-what\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The Public Investment what?\",\"datePublished\":\"2022-09-12T04:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/193.jpg?fit=%2C&ssl=1\",\"keywords\":[\"AMOC\",\"EnterpriseAM\",\"M&amp;A Watch\",\"Saudi Arabia\",\"Sovereign wealth funds\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/\",\"name\":\"The Public Investment what? 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The Public Investment Fund (PIF) is in \u201cadvanced talks\u201d\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":548377,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/07\/saudi-wealth-fund-sets-up-company-to-invest-in-egypt\/","url_meta":{"origin":549304,"position":1},"title":"Saudi wealth fund sets up company to invest in Egypt","author":"enterpriseam admin","date":"7 August 2022","format":false,"excerpt":"Introducing the SEIC: Saudi Arabia\u2019s sovereign wealth fund has set up a company to manage its investments in Egypt as it prepares to deploy bns of USD in the country in the coming months, it said in a statement on Thursday. The Saudi Egyptian Investment Company (SEIC) will act as\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/157.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":549304,"position":2},"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":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":549304,"position":3},"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":550370,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/saudi-wealth-fund-acquires-minority-stake-in-eipico\/","url_meta":{"origin":549304,"position":4},"title":"Saudi wealth fund acquires minority stake in EIPICO","author":"enterpriseam admin","date":"25 October 2022","format":false,"excerpt":"PIF now owns a slice of EIPICO: Saudi Arabia\u2019s sovereign wealth fund is strengthening its position in Egypt\u2019s pharma sector, acquiring a 4.7% stake in EGX-listed Egyptian Pharma Company (EIPICO), Al Mal reports, citing sources it says are in the know. The Public Investment Fund (PIF) reportedly purchased some 4.7\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548481,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/10\/saudi-wealth-fund-to-acquire-25-of-mopco\/","url_meta":{"origin":549304,"position":5},"title":"Saudi wealth fund to acquire 25% of Mopco","author":"enterpriseam admin","date":"10 August 2022","format":false,"excerpt":"Another Gulf wealth fund wants a piece of Mopco: Saudi Arabia\u2019s sovereign wealth fund will acquire a stake in the state-owned Misr Fertilizers Production Company (Mopco) through the EGX, a source at the bourse confirmed to Enterprise. The Public Investment Fund (PIF) will purchase 25% of the company through its\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/199.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549304","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=549304"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549304\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549305"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549304"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549304"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}