Saudi Arabia launches major investment company in Egypt

The Saudi State Investment Fund (Saudi Sovereign Fund) announced the launch of the Saudi Egyptian Investment Company, which aims to invest in a number of sectors in Egypt.

The Saudi State Investment Fund added that the company is looking to invest in several key sectors, including infrastructure, real estate development, healthcare and financial services, in addition to investments in food, agricultural and industrial projects such as the pharmaceutical industry, and other attractive investments. capabilities.

The fund explained that the company will help strengthen the investment partnership of the State Investment Fund and its portfolio companies, as well as the Saudi private sector for many investment opportunities in Egypt. This will help achieve attractive returns in the long term and develop cooperation in many strategic sectors.

The Egyptian Cabinet approved the sale of the Egyptian Gas Holding Company (GASCO) stake in Misr Fertilizer Production Company (MOPCO) to the Saudi Egyptian Investment Company, one of the companies of the Saudi State Investment Fund.

Sources have confirmed that the deal is valued at £1 billion, two hundred and ninety-nine million, one hundred and fifty-four thousand, four hundred and seventy pounds in exchange for the purchase of GASCO’s entire holding in Misr Fertilizer Production Company, which amounts to $5.72. % of the company’s total shares, with shares of 13 million and 100 thousand and 277 shares.

Source: Cairo 24

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