{"id":561435,"date":"2021-04-07T03:55:52","date_gmt":"2021-04-07T03:55:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/"},"modified":"2021-04-07T03:55:52","modified_gmt":"2021-04-07T03:55:52","slug":"adq-teams-up-with-adnoc-on-wataniya-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/","title":{"rendered":"ADQ teams up with Adnoc on Wataniya bid"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Abu Dhabi\u2019s sovereign wealth fund ADQ is joining forces with Abu Dhabi National <\/strong><strong>Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum<\/strong>, with the aim of making a stronger offer for the company, the <a href=\"https:\/\/alborsaanews.com\/2021\/04\/06\/1433413\">local press<\/a> reports, citing unnamed sources. Adnoc was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a942317-1102-4ec1-9b16-79861b30fcfd\">reportedly in the process of appointing advisors<\/a> last month, and is competing with other GCC players, including state-owned <a href=\"https:\/\/www.enoc.com\/en\/\">Emirates National Oil Company<\/a> (ENOC), Saudi Arabia's <a href=\"https:\/\/www.aldrees.com\/english\/\">Aldrees Petroleum and Transport Services Co<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7cd40893-6a1e-4d00-975c-6fa551a0f8f3\">Qalaa Holdings\u2019 Taqa Arabia<\/a>.<\/p>\n<p><strong>A sale is expected to go ahead in the second half of 2021<\/strong> after the Sovereign Fund of Egypt (SFE) \u2014 which is managing the sale \u2014 last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a942317-1102-4ec1-9b16-79861b30fcfd\">changed its plans<\/a> for a 1H2021 transaction.<\/p>\n<p><strong>Background:<\/strong> Wataniya is one of two companies that are kickstarting a privatization program of companies owned by the military\u2019s National Service Products Organization. The SFE had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/97d049e6-a61e-4b0c-889d-f141f384cee9\">previously said<\/a>it plans to retain a 10-20% stake in the companies up for sales, with the rest to be sold off to the private sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi\u2019s sovereign wealth fund ADQ is joining forces with Abu Dhabi National Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum, with the aim of making a stronger offer for the company, the local press reports, citing unnamed sources. Adnoc was reportedly in the process of appointing advisors last month, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":561436,"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":[1703,299,93,72,7128,91,81,370,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-adnoc","tag-adq","tag-energy","tag-enterpriseam","tag-ma-watch","tag-oil-and-gas","tag-privatization-watch","tag-sovereign-fund-of-egypt","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"c581195f-c2cd-40e4-831d-0b6f2a19873a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/63.jpg","photo_position":"above","related_issue":[561425],"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>ADQ teams up with Adnoc on Wataniya bid - 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\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADQ teams up with Adnoc on Wataniya bid\" \/>\n<meta property=\"og:description\" content=\"Abu Dhabi\u2019s sovereign wealth fund ADQ is joining forces with Abu Dhabi National Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum, with the aim of making a stronger offer for the company, the local press reports, citing unnamed sources. Adnoc was reportedly in the process of appointing advisors last month, and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-07T03:55:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/63.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"ADQ teams up with Adnoc on Wataniya bid\",\"datePublished\":\"2021-04-07T03:55:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\"},\"wordCount\":176,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/4\/63.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ADNOC\",\"ADQ\",\"energy\",\"EnterpriseAM\",\"M&amp;A Watch\",\"oil and gas\",\"privatization watch\",\"Sovereign Fund of Egypt\",\"Wataniya Petroleum\"],\"articleSection\":[\"Privatization\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/adq-teams-up-with-adnoc-on-wataniya-bid\/\",\"name\":\"ADQ teams up with Adnoc on Wataniya bid - 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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":565092,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/17\/wataniya-sale-pushed-back-to-2h2021\/","url_meta":{"origin":561435,"position":2},"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":568137,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/20\/privatize-all-the-things\/","url_meta":{"origin":561435,"position":3},"title":"Privatize all the things","author":"enterpriseam admin","date":"20 December 2020","format":false,"excerpt":"The state privatization program could be making a comeback in the coming months after Public Enterprises Minister Hisham Tawfik told Bloomberg over the weekend that the government has earmarked five companies to be offered to investors. 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