Agro Corp Holds Talks On Offshore Fund’s Investment Policy

Agro Corp Private Equity is currently holding talks with a number of investors and firms so as to define the investment policy of its coming fund, which will be launched by the beginning of October 2012.

Khaled Saba, Agro Corp Private Equity CEO, said the new offshore fund will be investing in the Egyptian market’s food sector and is going also to seize shares in a number of high-growth firms.

“It will be a closed-end offshore fund investing in the Egyptian market’s food sector.” Saba added

“About $100 million will be collected for the first phase to launch the offshore fund  which will be from the beginning of October 2012 till March 2013.”

Saba noted that the new offshore fund is owned by two Egyptian businessmen and one Gulf investor alongside the Egyptian Tycoon Naguib Sawiris.