View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 23, 2015

Pioneers enters sealed bid for Arab Dairy

Private equity firm Pioneers Holding is keen to remain in the running to acquire Egyptian dairy firm Arab Dairy, according to a statement from Egypt's financial regulator.

Private equity firm Pioneers Holding is keen to remain in the running to acquire Egyptian dairy firm Arab Dairy, according to a statement from Egypt's financial regulator.

Pioneers' bid for the dairy firm of EGP64.30 per share had been topped earlier this month by Lactalis-owned Egyptian dairy business for Al Nour for Dairy Industries. Al Nour had offered a takeover bid of EGP65.75 per share.

A statement issued yesterday (22 February) from the Egyptian Financial Supervisory Authority said 15 February marked 60 days since the first offer and so final offers would be made by sealed bids.

It added Pioneers had submitted a request in which it "expressed its desire to continue in the bidding process according to a sealed bids system".

EFSA is to indicate a date and location to open the bids.

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