Arab Dairy Products gets another suitor

31 Dec 2014

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 […]

Arab Dairy Products gets another suitor

http://www.dreamstime.com/royalty-free-stock-photo-sphinx-pyramid-egypt-image15505755The 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 tags

New Dairy

Related news

Award-winning startup uses enzymes to cut sugar in fruit juice

Award-winning startup uses enzymes to cut sugar in fruit juice

31 Jan 2019

Fruit juice has come under fire for its high sugar content in recent years, but an Israeli startup called Better Juice has developed an enzyme technology that cuts sugars by up to 80% without adding or subtracting anything from the juice.

Read more 
Food Ingredients North America trade show to debut at SupplySide West in 2019

Food Ingredients North America trade show to debut at SupplySide West in 2019

16 Oct 2018

Informa announces combination of two leading global events to create U.S. “super show” for food, nutrition and health market

Read more 
Mintel highlights innovative, surprising new products in 2018

Mintel highlights innovative, surprising new products in 2018

15 Aug 2018

Food and drink innovation in 2018 continues to be influenced by flavour extremes and the impact of social media in spreading visually stimulating and fun concepts, notes Chris Brockman, EMEA Research Manager at Mintel.

Read more 
Glanbia announces performance nutrition ingredients

Glanbia announces performance nutrition ingredients

25 May 2018

Glanbia Nutritionals has announced what it describes as two new pioneering and innovative performance nutrition ingredients for formulation in functional beverages in Europe, the Middle East and Africa.

Read more 
Ecotrophelia UK shortlist announced

Ecotrophelia UK shortlist announced

24 May 2018

The growing trend for plant-based diets has inspired the teams that have entered this year’s student food innovation competition – Ecotrophelia UK. All five of the shortlisted products are meat-free and four are also vegan.

Read more 
Healthcare continuum drives Lonza growth

Healthcare continuum drives Lonza growth

10 May 2018

Lonza has reported what it describes as a positive start to 2018 with businesses along the healthcare continuum as growth drivers.

Read more 
Arla enters breakfast food-to-go market

Arla enters breakfast food-to-go market

9 May 2018

Arla Foods is set to launch into the breakfast food-to-go market with the introduction of its new Milk & Oats range of ready to drink beverages.

Read more 
Eurofins to acquire Covance Food Solutions

Eurofins to acquire Covance Food Solutions

7 May 2018

Global life sciences company LabCorp has announced that it has entered into a definitive agreement under which Eurofins Scientific will acquire the Covance Food Solutions business from LabCorp for $670 million.

Read more 
Engaging with the Instagram generation

Engaging with the Instagram generation

3 May 2018

Colourful, exotic and unusual foods are on the rise as a growing number of consumers look for food experiences they can share on social media.

Read more 
New shake makes children taller

New shake makes children taller

1 May 2018

Nutritional Growth Solutions is introducing Healthy Height, a kids’ protein shake the company says is clinically shown to improve children’s height, to the European market.

Read more