The sources added that a number of local and Gulf companies are competing to buy the Egyptian company, and among those offers is the Emirati food company Agthia, which also works in the water bottling activity. A government statement revealed last week that the database of the Safi Water and Wataniya companies for the distribution of petroleum products has been opened. The statement added that offers will be received during the current month of May, in preparation for the award in accordance with the specified timetables, and it was emphasized that there are major alliances between Egyptian and foreign companies that have expressed their desire and interest in progress. The sources pointed out that among the inquiries that the fund received from investors was the possibility of acquiring 100% of the company's shares, in addition to the possibility of purchasing a water bottling and packaging plant only without the rest of the company's activities. The government is seeking to accelerate the offering program after a disappointing start, and aims to collect $2bn during the current and next months from concluding exit deals from a number of companies.

Source: Daily News Egypt May 16, 2023 17:20 UTC