Board of UAE s Agthia approves acquisition of snacks group BMB reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Agthia Group is in the final stages of acquiring 75.02% stake in Egypt’s Ismailia Agricultural and Industrial Investment (Furat), the owner of Atyab brand
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Abu Dhabi-listed food and beverage company Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt s Ismailia Agricultural and Industrial Investment.
Agthia s acquisition of the 75.02% stake would give Ismailia an enterprise value of 3.22 billion Egyptian pounds ($205.6 million), Agthia said in a stock exchange filing.
Two wholly-owned units of Agthia will be incorporated as private limited companies with nominal share capital in the Abu Dhabi Global Market and used as acquisition vehicles for the transaction.
Agthia, owned by Abu Dhabi state-owned holding company ADQ, has made a series of recent acquisitions as it seeks to become a big player in the region s food and beverage industry. read more