View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 18, 2014

Lactalis submits takeover bid for Arab Dairy

French dairy group Lactalis has submitted a bid to buy Egypt's Arab Dairy Products.

Dairy group Lactalis has submitted a bid for the takeover of Egypt’s Arab Dairy Products.

In a stock exchange filing by Arab Dairy, Lactalis has offered to by the entire company for EGP66 (US$9.22) per share.

Earlier this month, Saudi’s Arrow Food Distribution joined the race to acquire Arab Dairy at EGP57.12 per share.

Other suitors have included Pioneers Holding which presently holds a 25% stake in Arab Dairy. The investment firm offered EGP56 per share in September.

Arla Foods also made a play for Arab Dairy in September, offering EGP65 per share for up to 100% of the business. At the time, Rasmus Malmbak Kjeldsen, senior vice president for Arla’s business in the Middle East and Africa, said: “The company seems well-aligned with our ambitions in Egypt”.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food