UAE-based dairy manufacturer National Food Products Company is reportedly eyeing a sale of a majority stake in its business.
According to Reuters, citing people familiar with the matter, the company which also distributes products including Milco and Lacnor, has appointed Emirates Investment Bank to manage the sale which could see the founding shareholders divest up to 51% of the company.
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A deal could look to fetch around US$1.5bn.
National Food Products Co. has a joint venture with Arla Foods which sees it distribute the diary giant's Lurpak, Three Cows and Puck products across the region.
The group also owns Lacnor, a French-owned enterprise based in Sharjah, UAE, which it acquired in 1981. Lacnor produces long-life milk and fruit juices.
The company could not be reached for comment at time of press.
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By GlobalDataIt was founded in 1971 by Lebanese-born businessman Fady Antonios and the local Bin Hamoodah group, a conglomerate with interests in oil and gas, automotive and real estate.
