An Abu Dhabi wealth fund is snapping up stakes in key Egyptian companies, including the country’s largest listed bank, as part of efforts to shore up the North African nation’s economy. ADQ said it’s buying into Commercial International Bank, Fawry for Banking & Payment Technology Services SAE, Alexandria Container & Cargo Handling Company, Misr Fertilizers Production Company and Abu Qir Fertilizers & Chemical Industries. The fund didn’t specify how much it will spend, but Bloomberg has previously reported ADQ plans to invest about $2bn in Egypt, including a stake of about 18% in Commercial International Bank. The Egyptian bourse reported block trades worth $1.82bn in the five firms on Tues
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