{"id":567894,"date":"2020-12-10T04:11:49","date_gmt":"2020-12-10T04:11:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/10\/the-first-two-military-owned-companies-line-up-to-sell-shares\/"},"modified":"2020-12-10T04:11:49","modified_gmt":"2020-12-10T04:11:49","slug":"the-first-two-military-owned-companies-line-up-to-sell-shares","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/10\/the-first-two-military-owned-companies-line-up-to-sell-shares\/","title":{"rendered":"The first two military-owned companies line up to sell shares"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Safi, Wataniya Petroleum are up first in Egypt\u2019s plan to partially privatize military-owned <\/strong><strong>companies:<\/strong> 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 to privatize, Planning Minister and SFE Chairperson Hala El Said said yesterday, according to a <a href=\"https:\/\/bit.ly\/3a1ev2b\">cabinet statement<\/a>. The SFE will market these companies to private investors in the first phase of the privatization plan, before eventually moving to list them on the bourse, the minister said without providing further details on the timeline or expected size of the listing.<\/p>\n<p><strong>Background:<\/strong> The SFE and NSPO had signed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4320ae5-46f3-467a-9c7f-616e807179de\">in February<\/a> a cooperation agreement for the NSPO to open up its subsidiaries for investors, after President Abdel Fattah El Sisi <a href=\"https:\/\/enterprise.press\/stories\/2019\/12\/26\/egypts-el-sisi-revives-talks-about-listing-military-companies-9138\/\">said twice<\/a> that stakes in army-owned companies and assets could be sold on the EGX as part of the state privatization program. The fund was looking at 10 of NSPO\u2019s subsidiaries to offer them up for co-investment, SFE CEO Ayman Soliman <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fe83dcb9-73a2-4e07-bf83-368fdb303009\">said in March<\/a>. Soliman did not disclose the company names under assessment at the time, and the fate of the rest of the roster so far remains unclear.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 to privatize, Planning Minister and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":567895,"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":[7224],"tags":[72,78,81,370,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam","tag-ipo-watch","tag-privatization-watch","tag-sovereign-fund-of-egypt","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"14b94986-d461-4f36-ab26-cf9227098f74","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/197.jpg","photo_position":"above","related_issue":[567886],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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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":568137,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/20\/privatize-all-the-things\/","url_meta":{"origin":567894,"position":1},"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. Improving market conditions and increased foreign appetite for Egyptian equities has prompted the government\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\/2020\/12\/327.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559205,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/hala-wallah\/","url_meta":{"origin":567894,"position":2},"title":"Hala wallah","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"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\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\/1\/146.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568014,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/more-military-companies-up-for-privatization-in-historic-shift-for-the-economy\/","url_meta":{"origin":567894,"position":3},"title":"More military companies up for privatization in \u201chistoric shift\u201d for the economy","author":"enterpriseam admin","date":"15 December 2020","format":false,"excerpt":"Three more military-affiliated companies will open up to private ownership in 2021, Sovereign Fund of Egypt CEO Ayman Soliman told Bloomberg. The three unnamed companies join Wataniya Petroleum and the National Company for Producing and Bottling Water (Safi), which Soliman said will be open for full private ownership as early\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\/2020\/12\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547987,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/cabinet-approves-military-ipos\/","url_meta":{"origin":567894,"position":4},"title":"Cabinet approves military IPOs","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"A step closer to a military IPO: The state is moving forward with the EGX listing of the National Company for Producing and Bottling Water (Safi) and Wataniya Petroleum after the cabinet approved the pre-listing procedures for the military companies during its weekly meeting yesterday, according to a statement.This has\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\/2022\/7\/217.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568288,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/buyers-are-lining-up-for-safi\/","url_meta":{"origin":567894,"position":5},"title":"Buyers are lining up for Safi","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"Mansour Group, Pepsico, CocaCola Egypt, Nestl\u00e9, and steel conglomerate ElGarhy Group are reportedly interested in buying a stake in army-affiliated Safi. The five companies \u2014 four of which own household bottled water brands \u2014 are currently in talks with the Sovereign Fund of Egypt (SFE) to take minority stakes 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\/2020\/12\/413.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\/567894","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=567894"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567894\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567895"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567894"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567894"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}