Almarai Co. — M&A Activity 2009

Jun 13, 2009

Almarai acquires 100% of The International Company for Agro Industrial Projects (Beyti) in Egypt.

2280 · 13/06/2009 08:51:44 · Announcement #15667 · View on Saudi Exchange

Almarai acquires 100% of The International Company for Agro Industrial Projects (Beyti) in Egypt.

On Thursday 11 June 2009, Almarai Company (Almarai) entered into a definitive agreement with the owners of the company to acquire 100% of the International Company for Agro Industrial Projects (Beyti) in Egypt, together with 185 feddans of land and other business related assets.

The transaction value is EGP 645 million (approximately SAR 430 million). The transaction is expected to close within the next coming weeks, following the completion of standard transaction conditions.

Egypt falls within the geographic scope of our joint venture with PepsiCo, International Dairy & Juice Limited.

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