Kellogg has outbid private equity firm Abraaj in the race to acquire Egyptian snack firm, Bisco Misr.

The cereal giant sent a request to the Egyptian Financial Supervisory Authority to update its bid to EGP82.2 (US$11.49) from an earlier offer of EGP79 per share.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Abraaj had raised its offer from EGP73.91 initially, to EGP79.1 and then EGP80.58 which it offered on Thursday (26 November).

Bisco Misr had previously attracted bids from Saudi’s Savola Group and Juhayna Food Industries.

Check out just-food’s profile on the biscuit maker.

See Also:

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.