Egypt’s sovereign fund, UAE’s ADQ deal includes stakes in listed, unlisted firms
Abu Dhabi wealth fund ADQ could acquire stakes in both listed and unlisted Egyptian companies as part of its investment in Egypt, Soliman told Al Arabiya TV.
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The investment would come as a move of support, especially to companies that are preparing to list on the EGX, with details set to be announced within days, Soliman said.
Recently Bloomberg reported last month that ADQ could acquire state-held stakes in five EGX-listed companies: private firms CIB and Fawry, and state-owned Abu Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling. The planned acquisitions are part of a $2 billion investment to shore up Egypt’s finances amid surging food and energy prices.
