{"id":568784,"date":"2020-02-04T04:30:28","date_gmt":"2020-02-04T04:30:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/"},"modified":"2020-02-04T04:30:28","modified_gmt":"2020-02-04T04:30:28","slug":"egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/","title":{"rendered":"Egypt takes its first step toward privatizing some military-owned companies"},"content":{"rendered":"

<\/a> PRIVATIZATION WATCH- Egypt takes its first step toward privatizing some military-owned companies: <\/strong>The Sovereign Fund of Egypt (SFE) and the National Service Products Organization (NSPO) signed yesterday a cooperation agreement that will see the fund market subsidiaries of military-affiliated NSPO to private investors, the cabinet said in a statement<\/a>. The signing came after President Abdel Fattah El Sisi twice said<\/a> we could soon see army-owned companies and assets sell stakes on the EGX as part of the state privatization program.<\/p>\n

What\u2019s next? <\/strong>The SFE and NSPO will be selecting assets and businesses likely to attract the interest of both local and foreign investors and add them to the fund\u2019s portfolio of assets, Planning and Economic Development Minister Hala El Said was quoted as saying. The fund would then be responsible for conducting feasibility and valuation studies, and running roadshows for the prospective listings.<\/p>\n

Army could be stepping out: <\/strong>The studies to determine the best utilization of the selected assets will be conducted with other financial advisors on board, and could in some cases lead to a complete sellout to the private sector. The fund would also be allowed to invest directly in those assets, provided it signs on a private sector partner.<\/p>\n

The potential portfolio: <\/strong>According to NSPO\u2019s website<\/a>, the organization parents 32 companies operating in heavy and specialized industry, commodities and food manufacturing, agriculture, fisheries and livestock, quarrying and mining, contracting, and services including conference management. This includes Wataniya Company for Roads, which has worked on almost every major infrastructure project in recent years, and Egyptian Steel<\/a><\/p>\n

Meanwhile, the Mogamma isn\u2019t up for grabs quite yet:<\/strong> The sovereign fund is still waiting for the government to completely clear the Mogamma El Tahrir bureaucratic nightmare before having the building transferred to it for a planned overhaul, CEO Ayman Soliman told reporters following the signing<\/a>. When the sovereign fund launched last year, it was reported that the government will transfer the site to its portfolio to shop for investors. The process to shut down El Mogamma, and relocate the government offices within it to new locations, began in 2016<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

PRIVATIZATION WATCH- Egypt takes its first step toward privatizing some military-owned companies: The Sovereign Fund of Egypt (SFE) and the National Service Products Organization (NSPO) signed yesterday a cooperation agreement that will see the fund market subsidiaries of military-affiliated NSPO to private investors, the cabinet said in a statement. The signing came after President Abdel […]<\/p>\n","protected":false},"author":1,"featured_media":568785,"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":[8572],"tags":[1034,541,72,1473,125,370,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-armed-forces","tag-asset-management","tag-enterpriseam","tag-investment-banking","tag-investment-watch","tag-sovereign-fund-of-egypt","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"a4320ae5-46f3-467a-9c7f-616e807179de","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/47.jpg","photo_position":"above","related_issue":[568779],"teaser":"","voice_url":""},"yoast_head":"\nEgypt takes its first step toward privatizing some military-owned companies - 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\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt takes its first step toward privatizing some military-owned companies\" \/>\n<meta property=\"og:description\" content=\"PRIVATIZATION WATCH- Egypt takes its first step toward privatizing some military-owned companies: The Sovereign Fund of Egypt (SFE) and the National Service Products Organization (NSPO) signed yesterday a cooperation agreement that will see the fund market subsidiaries of military-affiliated NSPO to private investors, the cabinet said in a statement. The signing came after President Abdel […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-04T04:30:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/47.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\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt takes its first step toward privatizing some military-owned companies\",\"datePublished\":\"2020-02-04T04:30:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\"},\"wordCount\":360,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/47.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Armed Forces\",\"asset management\",\"EnterpriseAM\",\"investment banking\",\"investment watch\",\"Sovereign Fund of Egypt\",\"SPEED ROUND\",\"state privatization program\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egypt-takes-its-first-step-toward-privatizing-some-military-owned-companies\/\",\"name\":\"Egypt takes its first step toward privatizing some military-owned companies - 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The evaluations come under an agreement the SFE signed last month with the military-affiliated National Service Products Organization (NSPO) to open up its subsidiaries for\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":568784,"position":1},"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 "IPO"","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":[]},{"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":568784,"position":2},"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 "Privatization"","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":569072,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/proposed-amendments-to-egypts-sovereign-fund-law-get-house-committee-nod\/","url_meta":{"origin":568784,"position":3},"title":"Proposed amendments to Egypt\u2019s sovereign fund law get House committee nod","author":"enterpriseam admin","date":"12 February 2020","format":false,"excerpt":"LEGISLATION WATCH- House mulls tax breaks for companies owned by Sovereign Fund of Egypt: The House Planning and Budget Committee approved yesterday proposed amendments to the Sovereign Fund of Egypt (SFE) law that would provide VAT refunds to any company that is more than 50% owned by the SFE and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569829,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/banque-du-caire-is-on-track-to-debut-in-april-interest-building-up-for-military-privatization\/","url_meta":{"origin":568784,"position":4},"title":"Banque du Caire is on track to debut in April, interest building up for military privatization","author":"enterpriseam admin","date":"9 March 2020","format":false,"excerpt":"PRIVATIZATION WATCH- Banque du Caire is on track to debut in April (for now): The state-owned Banque du Caire (BdC) is moving ahead with its plans to IPO 20-30% of its shares on the Egyptian Exchange in April, Al Masry Al Youm quotes CEO Tarek Fayed as saying in a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/103.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":568784,"position":5},"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 "Privatization"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568784","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=568784"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568784\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568785"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568784"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568784"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}