The Clap:
Seven international and Egyptian investors have submitted bids to acquire a minority share of government-owned fuel retailer Wataniya, signaling the privatization deal is expected to wrap soon.
Remember:
As of last year, the agreement was expected to see Wataniya sell off 174 of the 300 fuel stations it operates. The military company would retain 126 stations deemed strategic.
Offers have been on the table for a while:
Three final offers for a 30% stake in Wataniya were submitted as of February, though Taqa Arabia is the only player to publicly signal interest in the state-owned oil company.
