Abu Dhabi’s ADQ buys stakes in 5 publicly-listed Egyptian companies

By Arya M Nair, Official Reporter
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ADQ, an Abu Dhabi-based investment and holding company, has undertaken several transactions in Egypt’s publicly listed companies within key sectors, as part of its $20 billion joint strategic investment platform.

The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks, Fawry, the leading digital transformation and e-payments platform, Alexandria Container & Cargo Handling Company, a prominent logistics player, Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilizers & Chemical Industries, two key industrial companies in Egypt.

The investments reflect ADQ’s continued confidence in Egypt’s strong economic potential. The Egyptian economy has proven to be resilient over the past several years. Real GDP growth continues to outpace the majority of emerging market economies with current year projections estimated to reach 5.5 percent.

With its strategic location and the large size of its domestic market, the investments were driven by taking into account the underpinnings of Egypt’s strong domestic consumption, productivity growth, enormous untapped export potential, and positive trade outlook.

Mohamed Hassan Alsuwaidi
Mohamed Hassan Al Suwaidi

“The UAE and Egypt share a deep relationship underpinned by strong economic and trade ties. Since the inception of ADQ’s $20 billion strategic investment platform with the Sovereign Fund of Egypt, we have executed several investment opportunities in Egypt, with the aim to deliver robust commercial benefits and sustainable growth. The recent transactions are a testament to our long-term commitment to elevate our investment partnership with Egypt and continue deploying capital in projects of commercial importance.”

ADQ is a long-term investor in the Egyptian economy, with an office in Cairo. Since the platform’s inception, a number of strategic investments and partnerships have been realized, resulting in strong financial returns.

These include the acquisition of an 85.52 percent stake in The Sixth of October for Development and Investment (SODIC) through a consortium comprising Aldar Properties and ADQ, and the acquisition of Amoun Pharmaceutical Company, one of Egypt’s leading pharmaceutical manufacturers, distributors, and exporters.

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