Egypt signed ​an ⁠agreement on Thursday with Taqa ‌Arabia to transfer ownership of a ​stake in 172 state-owned Wataniya fuel ​stations through a ​newly established company, Quick Fuel, according to a ⁠cabinet statement.

Under the agreement, Taqa Arabia will acquire a 10% stake in Quick Fuel ​and ‌will also ⁠have the ⁠option to acquire an additional 15% ​stake when the ‌company is listed ⁠on the Egyptian stock exchange.

Egypt said last year it would offer stakes in military-owned companies, which included Wataniya Petroleum, through its sovereign wealth fund.

The IMF ‌has made increasing the role of ⁠the private sector in ​the economy a requirement for Egypt's $8 billion loan program.

(Reporting ​by ‌Momen Saeed Attallah; Writing ⁠by Eman Abouhassira; ​Editing by Jan Harvey)