Saudi Egyptian Investment Company acquires 34% of B.TECH ...Egypt

The Saudi Egyptian Investment Company (SEIC), which is affiliated with the Saudi Public Investment Fund (the sovereign fund), acquired a 34 percent minority stake in the Egyptian B.TECH company, one of the largest distributors of household appliances in Egypt, for about US$ 150 million, according to sources familiar with the deal who spoke to al-Sharq Business. B.TECH is the exclusive agent for many international brands in Egypt. It is 34 percent owned by the British DPI Company for direct investment, while the rest of the company’s ownership belongs to the family of Chairman Mahmoud Khattab. Khattab told al-Sharq that B.Tech aims to increase its sales to LE 15 billion in 2023, from LE 11 bi

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Last updated : 04 October 2022 clock 11:32 AM

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Saudi Egyptian Investment Company acquires 34% of B.TECH ...Egypt

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