The Clap
The Qatar Investment Authority is interested in acquiring a 25% stake in Eastern Company (EAST), according to sources.
The Deets
Sources say negotiations have not yet reached the offering stage. However, if the offer is made, it will be to acquire a part of the Holding Company Chemical Industries’ stake in Eastern Company.
Holding Company for Chemical Industries holds a 50.5% stake in Eastern Company.
Why this Matters
The Qatar Investment Authority has shown a lot of interest lately in acquiring stakes in EGX-listed companies as part of their plan to invest $20 billion in Egypt.