{"id":586994,"date":"2023-05-21T00:00:00","date_gmt":"2023-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/21\/adnoc-to-make-the-first-bid-for-wataniya\/"},"modified":"2023-05-21T00:00:00","modified_gmt":"2023-05-21T00:00:00","slug":"adnoc-to-make-the-first-bid-for-wataniya","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/21\/adnoc-to-make-the-first-bid-for-wataniya\/","title":{"rendered":"Adnoc to make the first bid for Wataniya"},"content":{"rendered":"

<\/span>Adnoc eyes a stake in Wataniya<\/span>: <\/span>Abu Dhabi National Oil Company (Adnoc) is <\/span>among <\/span>several companies interested in acquiring a stake in military-owned fuel retailer Wataniya, sources close to the transaction confirmed to Enterprise yesterday, following a report by <\/span>Asharq Business<\/a><\/span>. <\/span><\/p>\n

A Saudi-Emirati competition: <\/span>Adnoc is competing against an unnamed Saudi company for a <\/span>stake in Wataniya, one of our sources said, without naming the Saudi firm. Asharq quotes its sources as saying Saudi industrial oils giant Petromin and Emirates National Oil Company (ENOC) have also shown interest in the fuel retailer.<\/span><\/p>\n

Emirati bidders want at least 20-25% of Wataniya and military-owned bottled water company <\/span>Safi<\/span>,<\/span>Asharq quotes its sources as saying. <\/span>F&B company Agthia \u2014 which is owned by Abu Dhabi sovereign fund ADQ \u2014 is among several bidders for Safi, a source close to the transaction confirmed to Enterprise <\/span>last week<\/a><\/span>. <\/span><\/p>\n

REMEMBER- <\/span>The Madbouly cabinet <\/span>has said<\/a><\/span> that both Safi and Wataniya would start receiv<\/span>ing offers from strategic investors this month. The government has reportedly tapped<\/span> CI Capi<\/span>tal to <\/span>market<\/a><\/span> the two firms. <\/span><\/p>\n

Do strategics only want part of<\/span> Safi?<\/span>The bottled drinks firm has attracted attention from both <\/span>local and foreign investors but potential buyers are keen to buy the water business on a standalone basis without the firm\u2019s olive oil, pickled olives, and salt subsidiaries, Asharq reports its sources as saying. <\/span><\/p>\n

More momentum for the privatization program? <\/span>The government last week made the first <\/span>significant transaction in its privatization program, raising EGP 3.75 bn through the sale of <\/span>a 9.5% stake in Telecom Egypt<\/span> to <\/span>mostly local<\/a><\/span> institutional investors on the EGX. The government aims to raise USD 2 bn via asset sales by the <\/span>end of June<\/a><\/span>. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Strategics reportedly want at least 20% of Wataniya, Safi<\/p>\n","protected":false},"author":1,"featured_media":586995,"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":[1703,10599,72,7128,81,586],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-adnoc","tag-enoc","tag-enterpriseam","tag-ma-watch","tag-privatization-watch","tag-safi","wpautop","entry"],"acf":{"mongo_id":"13d7c392-176a-49a3-9189-d72db75205d2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1077.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adnoc leads the race to snap up shares in Wataniya","related_issue":[586987],"teaser":"Strategics reportedly want at least 20% of Wataniya, Safi","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.af6bf419-0a95-4ad1-9487-ed68d91ba856.mp3"},"yoast_head":"\nAdnoc to make the first bid for Wataniya - 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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":614765,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/govt-to-close-bidding-for-wataniya-soon-gabal-el-zeit-wind-farm-next-in-line\/","url_meta":{"origin":586994,"position":3},"title":"Gov\u2019t to close bidding for Wataniya soon + Gabal El Zeit wind farm next in line","author":"enterpriseam admin","date":"7 February 2024","format":false,"excerpt":"The government plans to sell at least 10% in Wataniya","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\/8\/1427.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622379,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/adnoc-distribution-to-manufacture-motor-oil-in-egypt-before-the-end-of-2024\/","url_meta":{"origin":586994,"position":4},"title":"Adnoc Distribution to manufacture motor oil in Egypt before the end of 2024","author":"enterpriseam admin","date":"5 June 2024","format":false,"excerpt":"The company is also looking into obtaining a license to establish charging stations for EVs","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/402.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566219,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/the-bidding-war-for-the-armys-wataniya-petroleum-is-heating-up\/","url_meta":{"origin":586994,"position":5},"title":"The bidding war for the army\u2019s Wataniya Petroleum is heating up","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"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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