{"id":566219,"date":"2021-06-03T13:26:24","date_gmt":"2021-06-03T13:26:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up\/"},"modified":"2021-06-03T13:26:24","modified_gmt":"2021-06-03T13:26:24","slug":"the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up\/","title":{"rendered":"The bidding war for the army\u2019s Wataniya Petroleum is heating up"},"content":{"rendered":"

Saudi industrial oils giant Petromin is throwing its hat in the ring in what\u2019s shaping up <\/strong>into a bidding war for Wataniya Petroleum,<\/strong> Bloomberg<\/a> 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 consortium of Abu Dhabi\u2019s sovereign wealth fund ADQ and Abu Dhabi National Oil Company (Adnoc) for a majority stake in the army-owned gas stations operator. Saudi\u2019s Aldrees Petroleum and Transport Services Company<\/a> was also reported<\/a> to be interested in the stake. Due diligence on Wataniya is currently underway, according to Bloomberg\u2019s sources.<\/p>\n

Petromin is already in Egypt: <\/strong>The company has been operating here since 1992 through local subsidiary Petromin Egypt<\/a>, which markets lubricants, oils, and petroleum products, the business information service noted.<\/p>\n

Background: <\/strong>Wataniya is one of two companies that were chosen to spearhead a process led by the Sovereign Fund of Egypt to sell majority stakes to the private sector in companies owned by the Defense Ministry\u2019s National Service Products Organization. The sale of a stake in Wataniya is expected to go ahead before the end of the year after the SFE changed its plans<\/a> for a 1H2021 closing.<\/p>\n

Another Armed Forces-affiliated company \u2014 bottled water producer Safi \u2014 is then expected to follow suit<\/strong> as part of a total of 10 military-owned companies planned to be sold to the private sector under the program, and then listed on the EGX further down the line. The SFE had previously said<\/a>it plans to retain a 10-20% stake in the companies up for sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 consortium of Abu Dhabi\u2019s sovereign […]<\/p>\n","protected":false},"author":1,"featured_media":566220,"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":[10045],"tags":[299,93,633,1304,125,7128,91,613,219,615,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-adq","tag-energy","tag-enterprisepm","tag-gcc","tag-investment-watch","tag-ma-watch","tag-oil-and-gas","tag-qalaa-holdings","tag-saudi-arabia","tag-taqa-arabia","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"01c49589-519c-41ba-aca7-91d478b8aa97","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/419.jpg","photo_position":"above","related_issue":[566212],"teaser":"","voice_url":""},"yoast_head":"\nThe bidding war for the army\u2019s Wataniya Petroleum is heating up - 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\/06\/03\/the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The bidding war for the army\u2019s Wataniya Petroleum is heating up\" \/>\n<meta property=\"og:description\" content=\"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. 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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 "SPEED ROUND: PRIVATIZATION WATCH"","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":566219,"position":3},"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. 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PLUS: Blominvest now owns more of Rameda, more investments from Geidea","author":"enterpriseam admin","date":"3 December 2023","format":false,"excerpt":"Taqa Arabia will submit a binding offer to acquire a number of Wataniya fuel stations","rel":"","context":"In \"ALSO ON OUR RADAR\"","block_context":{"text":"ALSO ON OUR RADAR","link":"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/34.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586994,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/21\/adnoc-to-make-the-first-bid-for-wataniya\/","url_meta":{"origin":566219,"position":5},"title":"Adnoc to make the first bid for Wataniya","author":"enterpriseam admin","date":"21 May 2023","format":false,"excerpt":"Strategics reportedly want at least 20% of Wataniya, Safi","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\/5\/1077.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\/566219","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=566219"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566219\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566220"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566219"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566219"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}