Arab Finance: Some Emirati companies are close to acquiring stakes of not less than 20% to 25% in the military-owned National Company for Producing and Bottling Water (Safi) and the fuel retailer Wataniya, Asharq Business reported on May 19^th, citing three unnamed sources familiar with the matter.

The food and beverage company Agthia Group, affiliated to Abu Dhabi sovereign fund ADQ Holding, has already submitted an offer to acquire a stake in Safi Company, according to one of the sources.

The source added that the Emirati firms Abu Dhabi National Oil Company (ADNOC) and Emirates National Oil Company Group (ENOC), as well as the Saudi Petromin Corporation, have showed interest to acquire a stake in Wataniya.

On May 8^th, the Egyptian cabinet revealed that the government started receiving offers from investors seeking to buy shares in Safi and Wataniya.

The IPO program aims to sell stakes in 32 state-owned companies across various sectors to attract strategic investors.

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