Three bidders jostle for stake in Egypt’s army-owned Wataniya – minister

Three firms are vying to buy a stake in Egypt’s army-owned petrol stations operator Wataniya, Planning Minister Hala al-Saeed told CNBC Arabia on Tuesday.

The transaction is expected to complete within weeks, the minister added.

Earlier in late 2020, al-Saeed said Egypt’s military plans to offer stakes in two of its companies for sale in a move to increase private involvement in the economy.

Wataniya Petroleum has a network of petrol stations throughout Egypt.