News
Arab Dairy Products gets another suitor
31 Dec 2014The Egyptian Financial Supervisory Authority (EFSA) has approved a request from Al Noor for Dairy Industries, a subsidiary of French dairy company Lactalis, to launch a tender offer for 6 million shares, or 100% of Arab Dairy Products. Al Noor has offered EGP 58 per share. EFSA had previously extended the duration for the tender […]
The Egyptian Financial Supervisory Authority (EFSA) has approved a request from Al Noor for Dairy Industries, a subsidiary of French dairy company Lactalis, to launch a tender offer for 6 million shares, or 100% of Arab Dairy Products.
Al Noor has offered EGP 58 per share.
EFSA had previously extended the duration for the tender offer launched by Pioneer Holding for 3,611,301 shares in Arab Dairy Products for ten days starting from the expiry of the current period and will end on Monday, January 12, 2015.
The Arab Dairy board had decided to approve a request received from Saudi-based company Arrow Food Distribution to conduct due diligence. Arrow had offered EGP 57.12 per share.
Arla tabled a bid of EGP 65/share for Arab Dairy Products in September but dropped out in December after conducting due diligence.
Related news
Danone removes NutriScore from products
20 Sep 2024
Following an algorithm update that gives some of its sweetened drinks a worse score, Danone has removed the front-of-pack label, NutriScore, from all of its products – putting profit before public health, say campaigners.
Read moreChobani develops shelf-stable, prebiotic-enriched Super Milk
12 Sep 2024
Chobani has launched a prebiotic-enriched, shelf-stable, high-protein dairy milk to support people in disaster zones who need a nutritious drink that does not require refrigeration.
Read moreTesco trials methane mitigation supplement for dairy cattle
5 Sep 2024
Tesco is trialing a methane-reducing feed supplement for one of its key UK dairy farms, sustainable UK milk producer Grosvenor Farms.
Read moreSheep and goat plague: A new threat to Greece’s feta production
27 Aug 2024
A recent goat and sheep plague outbreak threatens feta production in Greece. The flagship product accounts for roughly 10% of the country’s food exports, but Greek authorities say there is no cause for concern.
Read moreNestlé develops a new fat reduction method for dairy ingredients
26 Aug 2024
A Brazil-based Nestlé research and development team has developed a way to reduce the fat in milk powder by as much as 60%, without impacting the key characteristics that consumers enjoy.
Read moreDutch court rules against plant-based butter brand ‘Roombeter’: Only dairy products allowed to use the word ‘cream’
26 Jul 2024
A Dutch court has ruled against Upfield’s plant-based butter, Roombeter, stating that its use of the word ‘room’ (cream) in the product name violates European regulations that protect dairy-related terms allowed for dairy products only.
Read moreHow will Denmark’s 2030 carbon tax impact farming?
12 Jul 2024
Denmark has announced plans to implement Europe’s first carbon tax on agriculture from 2030, targetting the farming sector’s CO2 emissions. How will it be implemented and how have farmers reacted?
Read moreSweden updates front-of-pack Keyhole labelling rules
11 Jul 2024
The Swedish Food Agency has announced updates to the voluntary Keyhole logo, used in four Nordic countries, following recommendations to improve nutrition labelling.
Read moreConsumers dislike faba beans’ sensory profile
3 Jun 2024
Consumers display low acceptance of faba beans, with sensory properties such as bitterness a core concern, a study suggests. However, for product varieties such as cocoa-free chocolate, this attribute could prove to be a benefit.
Read moreFood scientists uncover new way to preserve nutrient and flavour quality
29 May 2024
Researchers have developed a method that guarantees food safety for low-moisture products, such as dried milk, while maximising quality by retaining vitamins, minerals, and flavours, they say.
Read more