Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) is in early talks to acquire an undefined minority stake in Daltex Corporation, a leading agriculture company based in Egypt.

The sovereign fund sets sights on acquiring a stake in the Egyptian company through a capital increase, people familiar with the matters told Al Mal.

When completed, the acquisition will fuel the company’s expansion plans and finance its exports of production requirements.

Daltex appointed EFG Hermes as the financial adviser for the acquisition, while Matouk Bassiouny and Adsero Ragy Soliman & Partners were appointed as counsels.

Daltex owns a wide network that covers more than 65 countries.