ADNOC, ENOC and Petromin named in bid for Egypt’s Wataniya

UAE and Saudi based companies have reportedly expressed interest in acquiring substantial stakes, ranging from 20% to 25%, in two Egyptian state-owned enterprises.

The Egyptian companies on offer are the National Company for the Sale and Distribution of Petroleum Products, known as “Wataniya,” and the National Company for Natural Water Bottling, known as “Safi.”

Among the UAE companies interested in acquiring stakes in Wataniya and Safi are the Agthia Group, affiliated with the Abu Dhabi Sovereign Fund, ADQ Holding, as well as ADNOC and ENOC, reported Asharq Business quoting sources familiar with the matter.

Saudi Arabia’s Petromin was also named in the bid. But sources indicate that ADNOC is currently the frontrunner in submitting an acquisition offer based on ongoing discussions and inquiries.