Abu Dhabi’s ADQ agrees to $2 billion deal with Egypt – ArabianBusiness

Abu Dhabi’s ADQ agrees to $2 billion deal with Egypt – ArabianBusiness

An Abu Dhabi wealth fund agreed with Egypt to invest about $2 billion by buying state-held stakes in some companies, including the North African nation’s largest listed bank, according to people familiar with the deal.

Part of the agreement with ADQ involves it buying about 18 percent of Commercial International Bank, said the people who asked not to be identified as the talks are confidential.

Along with the CIB portion, which comprises about half the overall deal, ADQ is buying stakes in four other companies listed on Egypt’s stock market, including Fawry for Banking and Payment Technology Services SAE, the people said.