View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 3, 2015

Pioneers beats Lactalis in race for Arab Dairy – reports

Investment firm Pioneers Holding has reportedly submitted the winning bid for the takeover of Egypt's Arab Dairy.

Investment firm Pioneers Holding has reportedly submitted the winning bid for the takeover of Egypt's Arab Dairy.

Following a more than six-month long battle for the Egyptian dairy company, Pioneers' sealed bid offer of EGP71.11 (US$9.32) was accepted yesterday (2 March), according to Reuters. The newswire cited information from the Egyptian market regulator. Pioneers already owns 25% of Arab Dairy.

Al Nour, a local subsidiary of French dairy giant Lactalis, bid EGP71.

No-one was available to comment from Pioneers Holding at the time of press. Arab Dairy could not be reached for comment.

In November, amid the takeover battle for Arab Dairy, we published a profile on the company. Click here for more.

Related Companies

Topics in this article: , ,
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