{"id":559205,"date":"2021-01-13T03:49:22","date_gmt":"2021-01-13T03:49:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/"},"modified":"2021-01-13T03:49:22","modified_gmt":"2021-01-13T03:49:22","slug":"hala-wallah","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/","title":{"rendered":"Hala wallah"},"content":{"rendered":"<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies<\/strong>, <a href=\"https:\/\/alborsaanews.com\/2021\/01\/12\/1412586\">the local press<\/a> reports, citing unnamed sources familiar with the negotiations. State-owned <a href=\"https:\/\/www.enoc.com\/en\/\">Emirates National Oil Company<\/a> (ENOC) and Saudi <a href=\"https:\/\/www.aldrees.com\/english\/\">Aldrees Petroleum and Transport Services Co.<\/a> are reportedly interested in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd40893-6a1e-4d00-975c-6fa551a0f8f3\">vying with<\/a> Abu Dhabi National Oil Company (ADNOC) and Qalaa Holdings\u2019 TAQA Arabia, the sources say.<\/p>\n<p><strong>When is the sale going down?<\/strong> Wataniya could be selecting its preferred suitor by the end of the month to begin due diligence, paving the way for the sale to be wrapped up by the end of 1H2021.<\/p>\n<p><strong>But it hasn\u2019t worked out how much it wants to sell: <\/strong>Planning Minister Hala El Said and Sovereign Fund of Egypt (SFE) head Ayman Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e7223f0-f9e2-4a3f-a311-6c4ff9efe6fd\">suggested last month<\/a> that Wataniya and the National Company for Producing and Bottling Water (SafI) \u2014 both subsidiaries of the military\u2019s National Service Products Organization (NSPO) \u2014 could be fully privatized. But the SFE could still step in and acquire minority stakes of 20-30% in both companies, leaving 70-80% for the private sector, Soliman said.<\/p>\n<p><strong>More military firms could be on the table in the coming months:<\/strong> Wataniya\u2019s sale comes as part of a wider effort to privatize military-affiliated companies in 2021 which will include at least three other \u2014 as yet, unnamed \u2014 companies alongside Wataniya and Safi. The SFE-led initiative dates back to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4320ae5-46f3-467a-9c7f-616e807179de\">early last year<\/a> when the NSPO signed a cooperation agreement with the fund that authorized it to market subsidiaries of military-affiliated companies to private investors with the ultimate goal of listing their shares on the EGX.<\/p>\n<p><strong>IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.unionaire.com\/index.php\/en\/\">Unionaire Group<\/a><\/strong><strong> is planning to build a new factory in the Sixth of October City<\/strong> <strong>at a<\/strong> <strong>cost of EGP 1 bn<\/strong>, and earmark the plant\u2019s output for export, CEO Mohamed Osman said, according to <a href=\"https:\/\/bit.ly\/39scoT8\">Al Mal<\/a>. The A\/C and electronics manufacturer will fully cover the cost to set up the 55k sqm plant, which it expects to inaugurate in 2022, Osman added.<\/li>\n<li><strong>The announcement came after the company signed an agreement to manufacture TCL products in Egypt, <\/strong><a href=\"https:\/\/bit.ly\/3qhu4aK\">Al Mal<\/a> separately reported. Unionaire signed an exclusive manufacturing and distribution agreement with the Chinese TV and electronics giant.<\/li>\n<li><strong>Odin Inve<\/strong><strong>stments plans to launch four investment funds before the <\/strong><strong>end of 2021<\/strong>, each with EGP 500 mn in AUM, CEO Hashem El Sayed told Amwal Al Ghad.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies, the local press reports, citing unnamed sources familiar with the negotiations. State-owned Emirates National Oil Company (ENOC) and Saudi Aldrees Petroleum and Transport Services Co. are reportedly interested in vying with Abu Dhabi National Oil Company (ADNOC) and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":559206,"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":[72,131,2201,81,338,586,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-enterpriseam","tag-manufacturing","tag-national-service-products-organization","tag-privatization-watch","tag-retail","tag-safi","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"97d049e6-a61e-4b0c-889d-f141f384cee9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/146.jpg","photo_position":"above","related_issue":[559192],"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>Hala wallah - 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\/2021\/01\/13\/hala-wallah\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hala wallah\" \/>\n<meta property=\"og:description\" content=\"The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies, the local press reports, citing unnamed sources familiar with the negotiations. State-owned Emirates National Oil Company (ENOC) and Saudi Aldrees Petroleum and Transport Services Co. are reportedly interested in vying with Abu Dhabi National Oil Company (ADNOC) and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-13T03:49:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/146.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\/2021\/01\/13\/hala-wallah\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Hala wallah\",\"datePublished\":\"2021-01-13T03:49:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/\"},\"wordCount\":394,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/146.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Manufacturing\",\"National Service Products Organization\",\"privatization watch\",\"retail\",\"Safi\",\"Wataniya Petroleum\"],\"articleSection\":[\"Privatization\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/\",\"name\":\"Hala wallah - 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Adnoc was reportedly in the process of\u2026","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/63.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565092,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/17\/wataniya-sale-pushed-back-to-2h2021\/","url_meta":{"origin":559205,"position":1},"title":"Wataniya sale pushed back to 2H2021","author":"enterpriseam admin","date":"17 March 2021","format":false,"excerpt":"The sale of 80-90% of military-owned Wataniya Petroleum has been pushed back to 2H2021, sources close to the transaction told the local press. The Sovereign Fund of Egypt (SFE), which is managing the sale, had previously been expected to wrap it up in the first half of the year, according\u2026","rel":"","context":"In &quot;SPEED ROUND: PRIVATIZATION WATCH&quot;","block_context":{"text":"SPEED ROUND: PRIVATIZATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/497.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560310,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/franchising-on-the-menu-for-wataniya-sale\/","url_meta":{"origin":559205,"position":2},"title":"Franchising on the menu for Wataniya sale","author":"enterpriseam admin","date":"23 February 2021","format":false,"excerpt":"Franchisers are now on the list of potential buyers for 80-90% of military-owned Wataniya Petroleum, Sovereign Fund of Egypt (SFE) CEO Ayman Soliman told Reuters. The inclusion of franchising as a potential model for the sale came after the fund saw that some markets, including Europe, follow that model. The\u2026","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566219,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up\/","url_meta":{"origin":559205,"position":3},"title":"The bidding war for the army\u2019s Wataniya Petroleum is heating up","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"Saudi industrial oils giant Petromin is throwing its hat in the ring in what\u2019s shaping up into a bidding war for Wataniya Petroleum, Bloomberg reports, quoting sources familiar with the matter. The company will compete with each of Qalaa Holdings\u2019 Taqa Arabia, Dubai\u2019s state-owned Emirates National Oil Company, and a\u2026","rel":"","context":"In &quot;SPEED ROUND: M&amp;A WATCH&quot;","block_context":{"text":"SPEED ROUND: M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/419.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614765,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/govt-to-close-bidding-for-wataniya-soon-gabal-el-zeit-wind-farm-next-in-line\/","url_meta":{"origin":559205,"position":4},"title":"Gov\u2019t to close bidding for Wataniya soon + Gabal El Zeit wind farm next in line","author":"enterpriseam admin","date":"7 February 2024","format":false,"excerpt":"The government plans to sell at least 10% in Wataniya","rel":"","context":"In &quot;Privatization&quot;","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\/1427.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567894,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/10\/the-first-two-military-owned-companies-line-up-to-sell-shares\/","url_meta":{"origin":559205,"position":5},"title":"The first two military-owned companies line up to sell shares","author":"enterpriseam admin","date":"10 December 2020","format":false,"excerpt":"Safi, Wataniya Petroleum are up first in Egypt\u2019s plan to partially privatize military-owned companies: The Sovereign Fund of Egypt (SFE) decided that Wataniya Petroleum and the National Company for Producing and Bottling Water (Safi) as the first two subsidiaries of the National Service Products Organization (NSPO) the fund will move\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/197.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\/559205","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=559205"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559205\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559206"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559205"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559205"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}