Political turmoil in Egypt is likely to hit revenues at companies owned by buyout firms based in the Gulf. But executives say they remain optimistic about the prospects for the country as a destination for investment.
"There are bumps along the road, and this is definitely affecting the short-term performance of our companies in Egypt in terms of productivity and revenues," said Dr Karim el Solh, the chief executive of Gulf Capital in Abu Dhabi. "So we'll definitely miss one or two quarters."
At the same time, Dr el Solh said private equity players - companies that raise funds from investors and buy stakes in private companies - had the luxury of taking a long-term view on the rapidly evolving situation in Egypt.
No comments:
Post a Comment