Almarai buys Egyptian firm for SR 431 million.Saudi Arabia's dairy firm Almarai Almarai is a dairy company from Saudi Arabia. It is known to be the largest in Middle East. Almarai offered its IPO in 2006. Products
adj. Containing many people or inhabitants; having a large population. [Middle English, from Latin popul nation. Almarai recently agreed to buy 100 per cent of Beyti, also known as International Company for Agro- Industrial Projects, for 645 million Egyptian pounds, Almarai said in a statement. The price tag also includes a 75-hectare piece of land, it added. "Egyptian markets fall under the work perimeter The boundary of a system or network, which defines the inside and outside. It is typically determined by firewalls and addresses. See DMZ. of the International Dairy and Juice Company (IDJ IDJ Island Def Jam )," Almarai said. Almarai and Pepsico announced in February the creation of IDJ, in which the Saudi firm holds a 48 percent stake. IDJ will be active in countries outside the Gulf Cooperation Council,where Almarai is a dominant player. Beyti is Almarai's second acquisition since December when it acquired a 75 percent stake in Jordanian dairy and juice firm Teeba for $126.4 million. The Teeba stake was later transferred to IDJ. Almarai,which has been diversifying its revenues through acquisitions, has earmarked SR 6 billion for investments up to 2013 to expand its business outside of the Gulf Arab region. Saudi Economic Survey. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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