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Asharq Al-Awsat

Business

Cairo - Asharq Al-Awsat

Saudi PIF Acquires Stakes in 4 Egyptian Companies Worth $1.3b

PIF Egypt SEIC Public Investment Fund Saudi Arabia

Egypt looks forward to more cooperation with the Saudi Public Investment Fund. (Asharq Al-Awsat)

The Saudi Egyptian Investment Company (SEIC), owned by Saudi Arabia's state-owned Public Investment Fund (PIF), has bought minority stakes in four Egyptian companies for $1.3 billion, Egypt's planning ministry said on Wednesday.

The companies are Abu Qir Fertizilers and Chemical Industries, Misr Fertilizers Production Company, Alexandria Container and Cargo Handling, and payments firm E-Finance for Financial and Digital Investments.

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