Qatar’s sovereign fund is reportedly interested in acquiring a stake in state-owned Sinai Manganese Company, despite recent news that the company is closer to an EGX-listing than a sale to strategic investors.
Sinai Manganese’s financial statements are being prepared ahead of promoting the company to the fund & starting the due diligence process (where potential investors can identify & assess risks, liabilities & business problems in the target company before finalizing the transaction).
The government is reportedly more inclined to price its assets in EGP rather than USD to accelerate the offerings, as some negotiations have been halted due to disagreement over the state of the Egyptian Pound, such as the United Bank deal.
Sources added that the deal is expected to be completed during H2-2023.
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