Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) will determine the size of the stakes which will be offered from Wataniya Petroleum Company and National Co. for Producing & Bottling Natural Water (Safi) for sale to strategic investors in the first quarter (Q1) of 2021, the Chairman of TSFE, Hala El-Saeed, said in interview on the Egyptian television.
The plan includes offering up to 100% of the two army-affiliated companies to the public, El-Saeed said on Sunday.
Three other companies, affiliated to the National Service Products Organization (NSPO), will also be offered for sale, she added, but didn't disclose the names of the three companies.
Companies offered to the public will follow all regulatory requirements of the Egyptian Exchange (EG), including disclosing their financial results.
The Egyptian Financial Group Hermes Holding (EFG Hermes) has been selected to advise on the transaction.
