Saudi Arabia’s state Public Investment Fund (PIF) has taken minority stakes worth $1.3bn in four Egypt state owned companies via its newly launched Saudi Egypt Investment Company (SEIC), Egypt’s planning ministry announced on 10 August.

SEIC’s 5 August launch statement says it “will invest in priority sectors including but not limited to, infrastructure, real estate development, health care, financial services, food and agriculture, manufacturing, pharmaceutical and other opportunistic investments.” (CONTINUED - 284 WORDS)