The Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), acquired a 34% stake in Egypt's B. TECH for around $150 million, Asharq Business reported on October 2nd, citing informed sources.
B.TECH seeks to increase its revenues by 30% to around EGP 11 billion and round up the number of branches to around 153 by the end of December.
It is worth noting that British private equity firm Development Partners International (DPI) owns a 34% stake in B.TECH.
Founded in 1997, B.TECH is an Egyptian shareholding company specializing in trading and distributing home appliances and electronics.
