News Details

Egypt's Sovereign Fund Looks at Franchisers as it Markets Wataniya Petroleum

23/02/2021

  • Franchisers are now on the list of potential buyers for 80-90% of military-owned Wataniya Petroleum. The inclusion of franchising as a potential model for the sale came after the Sovereign Fund of Egypt (SFE) CEO saw that some markets, including Europe, follow that model. The SFE, which is managing the sale on behalf of the Defense Ministry’s National Service Products Organization (NSPO), will retain a 10-20% stake in Wataniya, with the remainder going to a private sector buyer on a long-term leasehold basis. (Reuters)

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