The Clap
Following the recent wave of acquisitions, sources say that the Qatar Investment Authority is negotiating with the Sovereign Fund of Egypt over the acquisition of stakes in 3-4 companies.
The Deets
As per Al Borsa News, the acquisitions are targeting the fintech and renewable energy sectors, with eFinance (EFIH) and Fawry (FWRY) among the first companies being considered in the coming few weeks.
Qatar intends to invest $5 billion in Egypt, following the news that KSA and UAE have increased their investment in Egypt.
Related News
In the past week, the Saudi Public Investment Fund (PIF) acquired stakes in 4 Egyptian companies for a total value of $1.3 billion.
In addition to that, ADQ acquired stakes in several companies in a bid to increase its investments in Egypt.
Acquisition fever infecting Qatar? 👀
