{"id":550261,"date":"2022-10-20T04:06:59","date_gmt":"2022-10-20T04:06:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/qatar-could-soon-invest-up-to-usd-2-5-bn-in-state-held-firms\/"},"modified":"2022-10-20T04:06:59","modified_gmt":"2022-10-20T04:06:59","slug":"qatar-could-soon-invest-up-to-usd-2-5-bn-in-state-held-firms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/20\/qatar-could-soon-invest-up-to-usd-2-5-bn-in-state-held-firms\/","title":{"rendered":"Qatar could soon invest up to USD 2.5 bn in state-held firms"},"content":{"rendered":"

<\/a> Qatar could invest as much as USD 2.5 bn in state-held firms:<\/strong> Qatar\u2019s sovereign wealth fund is in advanced talks to buy up 20% of Vodafone Egypt from minority shareholder Telecom Egypt, as well as other state-held stakes in unlisted companies, in transactions worth up to USD 2.5 bn, sources close to the matter told Bloomberg<\/a>. The sources did not disclose the other state-held firms Qatar is eyeing.<\/p>\n

Telecom Egypt hasn\u2019t received a formal offer from anyone yet: <\/strong>TE is in talks with three Arab sovereign funds to divest part of its stake in Vodafone Egypt, though the telecoms giant has yet to receive any official bids, a source close to the matter confirmed to Enterprise. We\u2019ve previously reported<\/a> that the Qatar Investment Authority (QIA), Saudi Arabia\u2019s Public Investment Fund, and Abu Dhabi\u2019s ADQ are all in talks with the government over a piece of Vodafone Egypt.<\/p>\n

What\u2019s the timeline on the Vodafone Egypt stake sale? <\/strong>TE could come to an agreement with one of the funds by the end of the year, our source confirmed.<\/p>\n

We knew this was coming:<\/strong> The three funds have been in talks with the government \u2014 which owns 80% of TE \u2014 over the Vodafone stake for the past few months. Bloomberg Asharq<\/a> reported previously that QIA is looking to acquire as much as 25% of the company, while our source tells us TE is open to selling up to a 20% stake in Vodafone Egypt \u201cat the right price that would bring maximum returns to shareholders.\u201d The EGX-listed telecoms giant holds a 45% stake in the company.<\/p>\n

QIA has reportedly been eyeing several Egyptian companies:<\/strong> The fund was rumored to be looking at the EGX as an entry point to deploy capital as part of moves by our neighbors in the region to help shore up our economy with an influx of FDI. Local media outlets have reported that the Qatari fund is interested in purchasing stakes in Alexandria Containers and Eastern Company \u2014 though a source at Eastern\u2019s majority shareholder, Chemical Industries Holding, denied knowledge<\/a> of the talks when we reached out recently. The fund\u2019s investment arm last month signed an MoU<\/a> with the Transport Ministry to explore investment in Egypt\u2019s container terminals.<\/p>\n

Background:<\/strong> Qatar earlier this year pledged<\/a> to invest as much as USD 5 bn in Egyptian companies as part of wider Gulf efforts to shore up our economy and provide us with vital FX. Both PIF and ADQ have already made their to the EGX, investing bns of USD in a number of locally listed companies this year. PIF is reportedly still eyeing stakes<\/a> in at least three high profile local firms. Gulf state neighbors have pledged over USD 22 bn<\/a> in total to support the economy amid the fallout from the crisis in Ukraine.<\/p>\n

This all comes as part of the government\u2019s privatization push<\/strong>, which should see it more than double the private sector\u2019s role in the economy to 65% over the next three years and attract USD 40 bn in investment by 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

Qatar could invest as much as USD 2.5 bn in state-held firms: Qatar\u2019s sovereign wealth fund is in advanced talks to buy up 20% of Vodafone Egypt from minority shareholder Telecom Egypt, as well as other state-held stakes in unlisted companies, in transactions worth up to USD 2.5 bn, sources close to the matter told […]<\/p>\n","protected":false},"author":1,"featured_media":550262,"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":[72,125,7128,81,296,2362,2519,587,212,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-privatization-watch","tag-qatar","tag-qatar-investment-authority","tag-sovereign-funds","tag-state-privatization-program","tag-telecom-egypt","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"23c6426c-0b5d-4302-aeb2-74226e86a276","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/282.jpg","photo_position":"above","related_issue":[550257],"teaser":"","voice_url":""},"yoast_head":"\nQatar could soon invest up to USD 2.5 bn in state-held firms - 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The Qatar Investment Authority\u2019s (QIA) talks with Telecom Egypt over the potential purchase of a 20% stake in Vodafone Egypt have \u201caccelerated\u201d and could close \u201cvery soon,\u201d Bloomberg Asharq reports, citing two sources it says are in\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\/11\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588077,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/06\/could-qia-finally-acquire-a-stake-in-vodafone-egypt\/","url_meta":{"origin":550261,"position":1},"title":"Could QIA finally acquire a stake in Vodafone Egypt?","author":"enterpriseam admin","date":"6 June 2023","format":false,"excerpt":"Qatar\u2019s sovereign fund is looking to acquire stakes in a number of state companies before August","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\/6\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577130,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/qatar-deposits-usd-1-bn-with-the-cbe-as-acquisition-talks-stretch-out\/","url_meta":{"origin":550261,"position":2},"title":"Qatar deposits USD 1 bn with the CBE as acquisition talks stretch out","author":"enterpriseam admin","date":"10 November 2022","format":false,"excerpt":"Qatar\u2019s sovereign wealth fund has deposited USD 1 bn with the Central Bank of Egypt (CBE) as it negotiates to acquire stakes in major companies owned by the government, Bloomberg reports, citing sources familiar with the matter.Due diligence and negotiations are dragging on: The deposit comes as a stop-gap as\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549161,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/06\/three-gcc-sovereign-funds-have-their-eye-on-tes-stake-in-vodafone-egypt\/","url_meta":{"origin":550261,"position":3},"title":"Three GCC sovereign funds have their eye on TE\u2019s stake in Vodafone Egypt","author":"enterpriseam admin","date":"6 September 2022","format":false,"excerpt":"Could Telecom Egypt\u2019s stake in Vodafone Egypt be in play? The Qatar Investment Authority (QIA), Saudi Arabia\u2019s Public Investment Fund, and Abu Dhabi\u2019s ADQ are all eyeing part of state-owned landline monopoly Telecom Egypt\u2019s stake in Vodafone Egypt, a source with first-hand knowledge of the matter confirmed to Enterprise. Bloomberg\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\/9\/123.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578556,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/04\/a-qatari-company-wants-the-ramses-hilton\/","url_meta":{"origin":550261,"position":4},"title":"A Qatari company wants the Ramses Hilton","author":"enterpriseam admin","date":"4 January 2023","format":false,"excerpt":"Qatar has its eye on the Ramses Hilton: Qatar\u2019s Al Kuwari Group has submitted an offer to acquire the Ramses Hilton hotel for USD 320 mn, Bloomberg Asharq reported yesterday, citing what it says are two sources close to the matter. The Arab International Company for Hotels and Tourism, which\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\/2023\/1\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588252,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/the-qataris-are-close-to-acquiring-up-to-30-of-vodafone-egypt-al-mal\/","url_meta":{"origin":550261,"position":5},"title":"The Qataris are close to acquiring up to 30% of Vodafone Egypt -Al Mal","author":"enterpriseam admin","date":"8 June 2023","format":false,"excerpt":"Acquisition talks stalled earlier this year due to disagreements over the size of the stake on offer","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\/6\/414.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\/550261","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=550261"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550261\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550262"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550261"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550261"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}