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.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

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.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact