The Clap
Maha Capital, a subsidiary of the Qatari Sovereign Fund, has submitted a proposal to acquire a majority stake in Port Said and Damietta for container handling.
What
In September 2022, Maha Capital signed a memorandum of understanding with the Ministry of Transport to explore investment opportunities.
So what
It is reported that the two companies will be the first government offerings on the stock exchange, and the addition of a strategic investor before the public offering will improve the ports’ capacity and efficiency.
Now what
There have been rumors of the Qatari sovereign fund closing deals worth $2.7 billion, but no official confirmation has been made.
