Egypt to offer 10% stake in Safi, Wataniya to strategic investors within month

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Egypt is set to offer at least a 10% stake in two military-owned companies, namely National Company for Producing and Bottling Natural Water (Safi) and the National Petroleum Company (NPC), also known as Wataniya Petroleum Company, to a strategic investor within a month, Asharq Business reported on March 14th, citing an official familiar with the matter.

The official’s remarks were made a few hours before CI Capital, the financial advisor to the Egyptian government, started the process of promoting the two deals.

Moreover, another source said that an Emirati investor is already ready to buy a stake in Wataniya.

Established in 1993, Wataniya owns about 255 fuel stations, with 20 additional stations under construction.

Safi was established in 1996 in Siwa Oasis, and it owns four factories, one of which is for water industry, another for olive oil production, the third for pickled olives production, and the fourth is a salt production complex.

On March 12th, the Egyptian cabinet announced that Egypt would begin the procedures of Safi and Wataniya’s listing on Wednesday, March 15th.