Abu Dhabi Development Holding, a state-owned investment company in the UAE, has agreed to invest $800m to buy stakes in three Egyptian government companies, with a guaranteed return of 8% per year for four years, sources told Daily News Egypt. The guarantee will be reduced by the proceeds of exiting the investment through a public offering or a sale to a strategic investor. The deal was signed in July 2023, after a memorandum of terms and conditions was agreed upon between the parties. The three companies are among seven companies in the portfolio of the Pre-IPO Fund of the Sovereign Fund of Egypt (TSFE), which aims to prepare state-owned companies for listing on the stock market or selling to investors. The other four companies are Misr Technology Services, El Mostakbal for Urban Development, Misr Life Insurance, and Salhia Investment & Development Company.
