{"id":610317,"date":"2023-11-19T00:00:00","date_gmt":"2023-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/"},"modified":"2023-11-19T00:00:00","modified_gmt":"2023-11-19T00:00:00","slug":"japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/","title":{"rendered":"Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance"},"content":{"rendered":"

We have news of two cases of inbound foreign direct investment <\/strong>for you folks this morning. And while it won\u2019t surprise any of you that Saudi wealth fund PIF is taking more of e-Finance, Wadi Poultry\u2019s sale of a stake to Japan\u2019s Mitsui is interesting and took us by surprise. <\/p>\n

#1- Mitsui & Co. gets a slice of Wadi Poultry.<\/strong> The Tokyo-headquartered and -listed company agreed to purchase a stake in Egyptian broiler chicken producer Wadi Poultry, statements from both companies showed on Friday (here<\/a> and here, pdf<\/a>). The size of the stake and the investment were not disclosed, though Mitsuit\u2019s release suggests that the buy is big enough that it will hold Wadi as an associate. Mitsui acquired the stake in the Freiji-family-owned company through a UAE-based vehicle. <\/p>\n

Wadi is looking to harness the partnership with Mitsui to grow <\/strong>at home and throughout the region. Mitsui has been expanding in north and west Africa since its 2018 acquisition of a business in Morocco. <\/p>\n

Wadi Poultry captures the full value chain<\/strong>, from the production of breeding chickens and broilers to processing and distribution. It employs some 2.6k people. <\/p>\n

ADVISORS:<\/strong> Zilla Capital acted as the financial advisor to Wadi Group and Adsero-Ragy Soliman was counsel.<\/p>\n

#2- e-Finance is now a little bit more Saudi:<\/strong> Saudi Arabia\u2019s Public Investment Fund (PIF) has raised its stake in EGX-listed fintech player e-Finance by two percentage points to 27% by purchasing freefloat shares, e-Finance Chairman Ibrahim Sarhan told Al Arabiya<\/a> in an interview on Thursday. The Saudi Egyptian Investment Company \u2014 the PIF\u2019s investment arm in Egypt \u2014 had reportedly<\/a> been looking to increase its ownership of the company to 28%.<\/p>\n

BACKGROUND- <\/strong>The Saudi wealth fund acquired 25% of the company<\/a> last year for EGP 7.5 bn, becoming its single-largest shareholder and getting it two seats on the board. This was part of a wider USD 1.3 bn investment in state-held shares of EGX-listed companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wadi will harness the partnership to grow at home and abroad<\/p>\n","protected":false},"author":1,"featured_media":610318,"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":[7272],"tags":[339,6681,72,183,564,125,7128,11788,7345,11787],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-e-finance","tag-egypt-saudi-relations","tag-enterpriseam","tag-fintech","tag-food","tag-investment-watch","tag-ma-watch","tag-mitsui","tag-public-investment-fund","tag-wadi-foods","wpautop","entry"],"acf":{"mongo_id":"580af8a9-0b28-47e9-8cb0-043811c265a6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/952.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance","related_issue":[610304],"teaser":"Wadi will harness the partnership to grow at home and abroad","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.eeffd849-3b85-4f5b-ba21-0d7eed9e4a42.mp3"},"yoast_head":"\nJapan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance - 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\/2023\/11\/19\/japans-mitsui-invests-in-wadi-poultry-pif-ups-stake-in-e-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan\u2019s Mitsui invests in Wadi Poultry + PIF ups stake in e-Finance\" \/>\n<meta property=\"og:description\" content=\"Wadi will harness the partnership to grow at home and abroad\" 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Saudi\u2019s PIF wants to up its stake: EIPICO IR Manager Abdel Raheem Ghareeb tells us that the company has not received any official notice that Saudi Arabia\u2019s Public Investment Fund (PIF) intends to\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/451.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599540,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypt-chinas-new-hope-sign-agreement-to-build-usd-20-mn-poultry-farm\/","url_meta":{"origin":610317,"position":1},"title":"Egypt, China\u2019s New Hope sign agreement to build USD 20 mn poultry farm","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"The General Authority for Reconstruction Projects and Agricultural Development has signed an agreement with China\u2019s New Hope to set up a USD 20 mn poultry farm along the Wadi El Natroun-Alamein road, said Beheira Governor Hesham Amena.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631327,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/15\/ebrd-looking-to-acquire-non-controlling-stake-in-wadi-degla-holding\/","url_meta":{"origin":610317,"position":2},"title":"EBRD looking to acquire non-controlling stake in Wadi Degla Holding?","author":"enterpriseam admin","date":"15 March 2018","format":false,"excerpt":"M&A WATCH- EBRD looking to acquire non-controlling stake in Wadi Degla Holding. The European Bank for Reconstruction and Development (EBRD) is looking to acquire a non-controlling stake in Wadi Degla Holding Company sometime during 1H2018, unidentified sources tell Al Borsa. Wadi Degla had reportedly been fielding offers from local investors,\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":624861,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/20\/b-investments-acquires-majority-stake-in-gourmet-in-egp-125-mn-transaction\/","url_meta":{"origin":610317,"position":3},"title":"B Investments acquires majority stake in Gourmet in EGP 125 mn transaction","author":"enterpriseam admin","date":"20 September 2018","format":false,"excerpt":"**#4 M&A WATCH- B Investments acquires majority stake in Gourmet in EGP 125 mn transaction: Private equity firm B Investments announced yesterday that it has acquired a majority stake in Gourmet in an EGP 125 mn transaction that saw it acquire a 40% stake from Wadi Degla at a cost\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":627094,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/19\/aur-capital-wadi-degla-set-up-real-estate-private-equity-jv\/","url_meta":{"origin":610317,"position":4},"title":"Aur Capital, Wadi Degla set up real estate private equity JV","author":"enterpriseam admin","date":"19 July 2018","format":false,"excerpt":"Aur Capital, Wadi Degla set up real estate private equity JV: A subsidiary of former Investment Minister Ashraf Salman\u2019s private equity outfit, Aur Capital, and Wadi Degla Real Estate signed yesterday an agreement to set up a real estate private equity JV, according to a joint statement (pdf). The agreement\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":599108,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/18\/egypt-to-build-egp-3-bn-in-logistics-centers-for-dates-citrus-in-el-wadi-el-gedeed\/","url_meta":{"origin":610317,"position":5},"title":"Egypt to build EGP 3 bn in logistics centers for dates, citrus in El Wadi El Gedeed","author":"enterpriseam admin","date":"18 June 2019","format":false,"excerpt":"The government is planning to establish two logistics centers for dates and citrus fruits in El Wadi El Gedeed, the Supply Ministry\u2019s Internal Trade Development Authority (ITDA) head Ibrahim Ashmawy said. The centers are expected to come at a combined investment cost of EGP 3 bn.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"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\/610317","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=610317"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610317\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610304"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610318"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610317"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610317"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}