Saudi Arabia invests $1.3 bln in four Egyptian firms

The Saudi Egyptian Investment Co (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 (ABUK.CA), Misr Fertilizers Production Company (MFPC.CA), Alexandria Container and Cargo Handling (ALCN.CA), and payments firm E-Finance for Financial and Digital Investments (EFIH.CA).