Saudi Arabia’s Public Investment Fund (PIF) is in advanced talks to acquire three private Egyptian companies in the healthcare, education, and real estate development sectors, according to sources close to the deals. The sources said that the PIF saw promising investment opportunities in the Egyptian market that were in line with its investment strategy. In August 2022, the PIF acquired minority stakes in four Egyptian companies listed on the Egyptian Stock Exchange (EGX) for a total of $1.3 billion. The PIF purchased a 25% stake in eFinance from the National Investment Bank, valued at EGP 7.27 billion. Furthermore, the PIF acquired a stake of approximately 25% in MOPCO from three government agencies: the Ministry of Finance, the National Investment Bank, and the Egyptian Natural Gas Company (GASCO).

Source: Daily News Egypt September 20, 2023 12:28 UTC