The Clap
Gulf investors are reportedly awaiting Sidi Kerir Petrochemicals’ acquisition of plastics & rubber products manufacturer “Ethydco” in order to purchase a stake in the new entity.
What
The size of the stake is between 16%-20% of the new entity, & is subject to change following the completion of the acquisition deal.
So What
The Egyptian petrochemical sector has seen a lot of interest from Gulf investors, such as the Saudi & Emirati sovereign funds acquiring stakes in Abu Qir Fertilizers & Misr Fertilizers, as well as reports of Gulf investors’ interest in Helwan Fertilizers.
Now What
The two companies are finalizing the deal, with Ethydco on the list of state-owned companies set to be offered to investors &/or on the EGX.
