{"id":620875,"date":"2024-05-28T00:00:00","date_gmt":"2024-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/"},"modified":"2024-05-28T00:00:00","modified_gmt":"2024-05-28T00:00:00","slug":"pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/","title":{"rendered":"PIF in talks to get a piece of local agriculture firm Daltex"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>PIF is eying l<\/strong><strong>ocal agri firm Daltex:<\/strong> Saudi Arabia\u2019s Public Investment Fund (PIF), is in talks to acquire an unspecified minority stake in local agriculture firm <a target=\"_blank\" href=\"https:\/\/www.daltexcorp.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1NtcTEpoAxLG9K-MKJF6u0NR7gURBXS7PgqyGwdU4kFN61fyahWnvyciQ_aem_ATzGXM4Ah_B49549gt2kuiGOyucRms-14q1gKnTw-bU8SMY9bfmywfA6n7UrUff0bQUOxEaM6UFoZO7ey7LBZLWi\" style=\"\" rel=\"noopener\">Daltex Corporation<\/a> through a capital increase, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%af%d9%89-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%89-%d9%8a%d8%aa%d9%81%d8%a7%d9%88%d8%b6-%d9%84%d9%84%d8%a7%d8%b3%d8%aa\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still early stages: <\/strong>The talks are still in the early stages, and both sides are yet to reach an agreement or sign a contract, the sources added. If the acquisition goes through, Daltex will use the funds from the transaction to fund the company\u2019s expansions, and finance its exports of production requirements.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Daltex? <\/strong>The agriculture player has been operating in the Egyptian market since 1964 and has established itself as a \u201c <a target=\"_blank\" href=\"https:\/\/www.daltexcorp.com\/?fbclid=IwZXh0bgNhZW0CMTAAAR1NtcTEpoAxLG9K-MKJF6u0NR7gURBXS7PgqyGwdU4kFN61fyahWnvyciQ_aem_ATzGXM4Ah_B49549gt2kuiGOyucRms-14q1gKnTw-bU8SMY9bfmywfA6n7UrUff0bQUOxEaM6UFoZO7ey7LBZLWi\" style=\"\" rel=\"noopener\">leading exporter of Egyptian potatoes<\/a> and a fully-integrated player operating across all aspects of the agricultural value chain.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors:<\/strong> EFG Hermes is reportedly financial advisors to Daltex, while Matouk Bassiouny and Adsero Ragy Soliman & Partners are counsel. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lots of demand from PIF: <\/strong>The fund\u2019s wholly owned subsidiary the Saudi Egyptian Investment Company earlier this month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5a82c702-10eb-4631-b5ba-77ad9f1a1781\/\" style=\"\" rel=\"noopener\">submitted an offer<\/a> to acquire up to 100% of EGX-listed CIRA Education, alongside CIRA majority shareholder. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sovereign fund wants a minority stake in Daltex through a capital increase<\/p>\n","protected":false},"author":1,"featured_media":620876,"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":[7363],"tags":[97,72,7128,7345],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-agriculture","tag-enterpriseam","tag-ma-watch","tag-public-investment-fund","wpautop","entry"],"acf":{"mongo_id":"25d1e3c9-1102-40bb-9cb5-3dad57e30595","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2172.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi PIF in talks to get a piece of Egypt\u2019s agriculture firm Daltex","related_issue":[620867],"teaser":"The sovereign fund wants a minority stake in Daltex through a capital increase","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b7404929-3440-4278-8baa-506919d1e74d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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It\u2019s another hot Monday here at home, with another sluggish news cycle to boot.THE BIG STORY TODAY PIF eyeing local agri firm Daltex Crop? Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF) is reportedly currently in talks with people from local agriculture firm Daltex Corporation\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/589.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":620920,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/two-egyptian-financial-companies-to-set-up-shop-in-the-gulf\/","url_meta":{"origin":620875,"position":1},"title":"Two Egyptian financial companies to set up shop in the Gulf","author":"enterpriseam admin","date":"28 May 2024","format":false,"excerpt":"Good afternoon, friends. Welcome to another relatively brisk news day at home, with some interesting updates on the financial services industry.THE BIG STORY TODAY #1- CI Capital\u2019s Gulf expansion plans are also off the ground: State-owned investment bank CI Capital has announced its intentions to set up an \u201con-the-ground presence\u201d\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1414.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643877,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/17\/mohammed-bin-salman-tells-pif-to-pump-usd-5-bn-in-investments-into-egypt-in-first-phase\/","url_meta":{"origin":620875,"position":2},"title":"Mohammed bin Salman tells PIF to pump USD 5 bn in investments into Egypt in \u201cfirst phase\u201d","author":"enterpriseam admin","date":"17 September 2024","format":false,"excerpt":"Details on the kinds of investments to be targeted remained sparse","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546085,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/pif-subsidiary-ups-stake-in-egx-listed-rameda-el-garhy-buys-natl-glass-and-crystal-from-adib-egypt\/","url_meta":{"origin":620875,"position":3},"title":"PIF subsidiary ups stake in EGX-listed Rameda + El Garhy buys Nat\u2019l Glass and Crystal from ADIB Egypt","author":"enterpriseam admin","date":"27 April 2022","format":false,"excerpt":"Saudi PIF subsidiary ups stake in Rameda: The Saudi Seventh Investment Company (SSIC) has purchased another 6.5% of Rameda Pharma, raising its total stake to 11.01%, the EGX announced (pdf) yesterday. SSIC, a subsidiary of the Public Investment Fund (PIF, KSA\u2019s sovereign wealth fund), purchased 65 mn shares for EGP\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-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":549304,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/","url_meta":{"origin":620875,"position":4},"title":"The Public Investment what?","author":"enterpriseam admin","date":"12 September 2022","format":false,"excerpt":"AMOC responds to PIF rumors: Alexandria Mineral Oil Company (AMOC) has not received any information on the Saudi sovereign wealth fund\u2019s reported intention to acquire a minority stake in the company, it said in a disclosure (pdf) yesterday in response to reports in the local press. Al Shorouk reported on\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/193.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547556,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/27\/a-30-stake-in-the-new-hotels-company-will-be-up-for-grabs-the-saudis-have-their-eyes-on-the-stake-in-egyptalum\/","url_meta":{"origin":620875,"position":5},"title":"A 30% stake in the new hotels company will be up for grabs + the Saudis have their eyes on the stake in Egyptalum","author":"enterpriseam admin","date":"27 June 2022","format":false,"excerpt":"PIF has its eyes on our tourism and aluminum sectors: The Saudi sovereign wealth fund could be snagging a \u201csignificant\u201d stake in the new hotels company made up of several merged state hotels, Hapi Journal quotes Public Enterprises Minister Hisham Tawfik as saying. The Public Investment Fund (PIF) could snag\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/310.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\/620875","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=620875"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620875\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/620867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/620876"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=620875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=620875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=620875"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=620875"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=620875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}