Egypt to divest from 5 military-owned firms

The Sovereign Fund of Egypt (TSFE) and the Armed Forces’ National Service Projects Organisation (NSPO) signed cooperation agreements on Wednesday to restructure and divest from five military-owned companies to private investors, with support from local and international advisory firms.

The agreements cover the planned divestment from the National Petroleum Company, ChillOut, Silo Foods, Safi, and the National Company for Roads. The Sovereign Fund will manage the restructuring and offering process under a framework agreement with the NSPO, in line with Egypt’s State Ownership Policy and broader privatisation strategy.

Participating advisory firms include EFG Hermes and CI Capital as financial advisors, Adsero and Matouk Bassiouny & Hennawy as legal advisors, Grant Thornton and PwC for accounting and tax services, and Boston Consulting Group as the commercial and strategic advisor.

The government aims to offer some of the companies in 2025, with the rest to follow in 2026, according to a cabinet statement,

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama