{"id":568288,"date":"2020-12-24T04:06:56","date_gmt":"2020-12-24T04:06:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/buyers-are-lining-up-for-safi\/"},"modified":"2020-12-24T04:06:56","modified_gmt":"2020-12-24T04:06:56","slug":"buyers-are-lining-up-for-safi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/buyers-are-lining-up-for-safi\/","title":{"rendered":"Buyers are lining up for Safi"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Mansour Group, Pepsico, CocaCola Egypt, Nestl\u00e9, and steel conglomerate <\/strong><strong><a href=\"https:\/\/www.elgarhysteel.com\/#\">El<\/a><\/strong><strong><a href=\"https:\/\/www.elgarhysteel.com\/#\">Garhy Group<\/a><\/strong><strong> are reportedly interested in buying a stake in <\/strong><strong>army-affiliated Safi.<\/strong> 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 as much as 30% as part of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e7223f0-f9e2-4a3f-a311-6c4ff9efe6fd\">the SFE\u2019s plan<\/a> to open up military-affiliated businesses for private ownership, <a href=\"https:\/\/alborsaanews.com\/2020\/12\/23\/1407891\">the local press<\/a>reports, citing unnamed sources. The purchase of up to 30% of Safi, aka the National Company for Producing and Bottling Water, is expected to wrap up during 1Q2021, as soon as due diligence is complete, the sources said.<\/p>\n<p><strong>Talks with Mansour have \u201ccome a long way,\u201d <\/strong>according to the sources. The family-built giant already produces Hayat bottled water, while Nestl\u00e9, Pepsico and CocaCola have Nestl\u00e9 Pure Life, Aquafina, and Dasani water in the Egyptian market.<\/p>\n<p><strong>Do steel and water mix?<\/strong> Safi would be a leftfield investment for steelmaker El Garhy, and it remains unclear what the reasoning is for a potential foray into a market as foreign as water. Enterprise tried to contact the company yesterday but a representative couldn't be reached for comment.<\/p>\n<p><strong>Background: <\/strong>Safi is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14b94986-d461-4f36-ab26-cf9227098f74\">one of two subsidiaries<\/a> of the Defense Ministry\u2019s National Service Products Organization (NSPO) slated to open up for private ownership in 2021. The company, along with Wataniya Petroleum, will sell shares to a private investor under an MoU the SFE signed with NSPO <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a4320ae5-46f3-467a-9c7f-616e807179de\">last February<\/a>. The fund could still take minority stakes of 20-30% in both Safi and Wataniya, and offer the rest to private investors. It will then look at other army-owned companies, with the goal of marketing 10 of NSPO\u2019s subsidiaries as an initial phase. The privatization plan will see the companies ultimately listed on the EGX.<\/p>\n<p><strong>In other SFE news-<\/strong><\/p>\n<p><strong>The SFE can now partner with private sector companies on projects tendered by<\/strong> <strong>the Internal Trade Development Authority.<\/strong> The two organizations signed an agreement yesterday that will allow the SFE to invest in ITDA projects to encourage private sector participation, a <a href=\"https:\/\/bit.ly\/2KUwtsz\">cabinet statement<\/a> said, without providing further details.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 as much as 30% as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":568289,"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":[72,2326,125,3040,681,81,586,370,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-enterpriseam","tag-internal-trade-development-authority","tag-investment-watch","tag-mansour-group","tag-pepsico","tag-privatization-watch","tag-safi","tag-sovereign-fund-of-egypt","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"d5d7a08f-8981-4c32-965f-7ae7fb4c4a23","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/413.jpg","photo_position":"above","related_issue":[568282],"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>Buyers are lining up for Safi - 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\/2020\/12\/24\/buyers-are-lining-up-for-safi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buyers are lining up for Safi\" \/>\n<meta property=\"og:description\" content=\"Mansour Group, Pepsico, CocaCola Egypt, Nestl\u00e9, and steel conglomerate ElGarhy Group are reportedly interested in buying a stake in army-affiliated Safi. 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The Sovereign Fund of Egypt will speak with strategic investors \u201cin a number of cities around the world,\u201d Bloomberg Asharq says, quoting Planning Minister Hala El Said and fund CEO Ayman Soliman. The government had been planning\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\/2022\/10\/348.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578789,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/15\/five-state-military-owned-companies-added-to-pre-ipo-fund\/","url_meta":{"origin":568288,"position":2},"title":"Five state + military-owned companies added to pre-IPO fund","author":"enterpriseam admin","date":"15 January 2023","format":false,"excerpt":"The Sovereign Fund of Egypt (SFE) has added five state- and military-owned companies to its pre-IPO fund as the government gears up to restart its privatization program, Bloomberg Asharq reported Thursday, citing two sources it says are familiar with the matter. Officials at the SFE did not reply to requests\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\/2023\/1\/220.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553604,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/sfe-is-pushing-ahead-with-siemens-stake-sale-privatizing-military-businesses\/","url_meta":{"origin":568288,"position":3},"title":"SFE is pushing ahead with Siemens stake sale + privatizing military businesses","author":"enterpriseam admin","date":"9 December 2021","format":false,"excerpt":"Updates on the Siemens power plants + military companies\u2019 privatization from the SFE: The Sovereign Fund of Egypt (SFE) and the Electricity Ministry are nearly done with studies on how best to move forward with a stake sale in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plant,\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":668342,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/14\/govt-eyes-as-much-as-usd-5-6-bn-from-egx-listings-as-it-plans-fourth-wave-of-privatization\/","url_meta":{"origin":568288,"position":4},"title":"Gov\u2019t eyes as much as USD 5-6 bn from EGX listings as it plans \u201cfourth wave\u201d of privatization","author":"enterpriseam admin","date":"14 July 2025","format":false,"excerpt":"This is by offering stakes in six companies on the EGX by 1Q 2026","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\/2025\/1\/407.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":568288,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568288","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=568288"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568288\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568289"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568288"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568288"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}