DUBAI, April 7 (Reuters) - Abu Dhabi-listed meals a
DUBAI, April 7 (Reuters) – Abu Dhabi-listed meals and beverage firm Agthia Group on Wednesday mentioned its board has permitted an oblique acquisition of three quarters of Egypt’s Ismailia Agricultural and Industrial Funding.
Agthia’s acquisition of the 75.02% stake would give Ismailia an enterprise worth of three.22 billion Egyptian kilos ($205.6 million), Agthia mentioned in a inventory alternate submitting.
Two wholly-owned items of Agthia might be included as personal restricted corporations with nominal share capital within the Abu Dhabi World Market and used as acquisition autos for the transaction.
Agthia, owned by Abu Dhabi state-owned holding firm ADQ, has made a sequence of current acquisitions because it seeks to turn into a giant participant within the area’s meals and beverage trade.
Ismailia produces frozen hen and beef merchandise beneath 4 manufacturers within the Egyptian market.
($1 = 15.6600 Egyptian kilos)
(Reporting by Yousef Saba Enhancing by David Goodman )
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