{"id":550086,"date":"2022-10-13T03:40:31","date_gmt":"2022-10-13T03:40:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/"},"modified":"2022-10-13T03:40:31","modified_gmt":"2022-10-13T03:40:31","slug":"sfe-gets-the-ball-rolling-on-power-plant-stake-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/","title":{"rendered":"SFE gets the ball rolling on power plant stake sale"},"content":{"rendered":"

<\/a> Beni Suef power plant the first to go to SFE\u2019s pre-IPO fund?<\/strong> The Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef has reportedly been tapped as the first of the three plants to be transferred to the Sovereign Fund of Egypt\u2019s (SFE) pre-IPO fund before the end of the year, Bloomberg Asharq<\/a>reports, citing three government sources. The SFE will offer stakes in the plant to strategic investors \u201cat a later time,\u201d the sources say.<\/p>\n

We knew at least one of the plants would be transferred to the fund:<\/strong> Planning Minister and SFE Chairperson Hala El Said said in late September<\/a> that one of the three power plants would be among the first batch of state-owned assets that will be transferred to the SFE\u2019s pre-IPO fund. El Said had said that assets worth USD 3 bn would be shipped over to the fund by mid-November.<\/p>\n

What we don\u2019t know is exactly how the stake sales will move forward:<\/strong> \u201cThe offering could be made to a sole strategic investor or to several investors through minority stakes,\u201d one of the sources told Bloomberg Asharq. The source signaled that all options are open moving forward, with no specific timeline set for the stake sales.<\/p>\n

This might take some time:<\/strong> The decision on when to pull the trigger on the stake sales is ultimately the SFE\u2019s to make, one of the sources said, but suggested it won\u2019t necessarily be a speedy process.<\/p>\n

Who\u2019s interested?<\/strong> SFE head Ayman Soliman said in April<\/a> that the Saudi Public Investment Fund (PIF) could invest in all three plants as part of Riyadh\u2019s USD 10 bn investment pledge. The sovereign wealth fund acquired minority stakes<\/a> in four EGX-listed companies worth USD 1.3 bn over the summer.<\/p>\n

REFRESHER- <\/strong>The pre-IPO fund aims to prepare state-owned enterprises<\/a> for listing on the EGX by offering an alternative to public share sales while market conditions remain volatile. The government has been planning to market companies to Gulf sovereign funds and investors in Europe and Asia during a roadshow this month<\/a>. Shares held by the National Investment Bank worth up to USD 3 bn<\/a> will be sold to strategic investors in the first phase, with a second similar sized phase coming later.<\/p>\n

Background: <\/strong>Talks on a possible sale of stakes in the power plants go back to 2019<\/a> when the SFE was first established. The Beni Suef power plant is one of three three power plants with a combined generation capacity of 14.4 GW built by Siemens with partners Orascom Construction and Elsewedy Electric. The plants \u2014 one in each of Beni Suef, Burullus, and the new administrative capital \u2014 were inaugurated in July 2018<\/a>. Each station was, at the time of commissioning, the world\u2019s largest power plant.<\/p>\n","protected":false},"excerpt":{"rendered":"

Beni Suef power plant the first to go to SFE\u2019s pre-IPO fund? The Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef has reportedly been tapped as the first of the three plants to be transferred to the Sovereign Fund of Egypt\u2019s (SFE) pre-IPO fund before the end of the year, Bloomberg Asharqreports, citing three […]<\/p>\n","protected":false},"author":1,"featured_media":550087,"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":[7321],"tags":[152,72,727,363,2529,81,484,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-elsewedy-electric","tag-enterpriseam","tag-hala-el-said","tag-orascom-construction","tag-pre-ipo-fund","tag-privatization-watch","tag-siemens","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"03d92997-1040-4166-8a3e-4393f4bcc739","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/209.jpg","photo_position":"above","related_issue":[550082],"teaser":"","voice_url":""},"yoast_head":"\nSFE gets the ball rolling on power plant stake sale - 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\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SFE gets the ball rolling on power plant stake sale\" \/>\n<meta property=\"og:description\" content=\"Beni Suef power plant the first to go to SFE\u2019s pre-IPO fund? The Siemens-built, 4.8 GW combined-cycle power plant in Beni Suef has reportedly been tapped as the first of the three plants to be transferred to the Sovereign Fund of Egypt\u2019s (SFE) pre-IPO fund before the end of the year, Bloomberg Asharqreports, citing three […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-13T03:40:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.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\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"SFE gets the ball rolling on power plant stake sale\",\"datePublished\":\"2022-10-13T03:40:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\"},\"wordCount\":463,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/209.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Elsewedy Electric\",\"EnterpriseAM\",\"Hala El Said\",\"Orascom Construction\",\"pre-IPO fund\",\"privatization watch\",\"Siemens\",\"Sovereign Fund of Egypt\"],\"articleSection\":[\"Privatization\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/13\/sfe-gets-the-ball-rolling-on-power-plant-stake-sale\/\",\"name\":\"SFE gets the ball rolling on power plant stake sale - 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The roadshow was planned for the end of November\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\/11\/316.jpg?fit=%2C&ssl=1&resize=350%2C200","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":550086,"position":1},"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":552964,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/12\/this-evening-external-debt-drops-beni-suef-plant-the-first-to-go-to-sfes-pre-ipo-fund-plus-boe-stands-its-ground-on-bond-buying-deadline\/","url_meta":{"origin":550086,"position":2},"title":"THIS EVENING: External debt drops + Beni Suef plant the first to go to SFE\u2019s pre-IPO fund? Plus: BoE stands its ground on bond buying deadline","author":"enterpriseam admin","date":"12 October 2022","format":false,"excerpt":"Happy almost-THURSDAY, friends. We\u2019re almost at the finish line for the week, but the news cycle shows no signs of slowing just yet.THE BIG STORIES TODAY #1- Egypt\u2019s external debt dropped 1.3% q-o-q to USD 155.7 bn during the fourth quarter of last fiscal year (from April-June 2022), down from\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":582320,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/sfe-to-sell-stakes-in-2-3-state-owned-firms-in-april-says-ceo\/","url_meta":{"origin":550086,"position":3},"title":"SFE to sell stakes in 2-3 state-owned firms in April, says CEO","author":"enterpriseam admin","date":"7 March 2023","format":false,"excerpt":"Gov\u2019t will also announce \u201cwithin days\u201d who\u2019s buying the state hotels company.","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\/3\/Ayman-Soliman-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589745,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/09\/real-estate-player-el-mostakbal-joins-sfes-pre-ipo-fund-report\/","url_meta":{"origin":550086,"position":4},"title":"Real estate player El Mostakbal joins SFE\u2019s pre-IPO fund -report","author":"enterpriseam admin","date":"9 July 2023","format":false,"excerpt":"The SFE reportedly plans to sell a 25-30% stake in the company","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\/7\/252.jpg?fit=%2C&ssl=1&resize=350%2C200","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":550086,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550086","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=550086"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550086\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550082"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550087"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550086"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550086"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}