Baladna, a Qatari dairy company, has announced that it has acquired 5% stake in Juhayna Food Industries, an Egyptian manufacturer specialized in the production, processing and packaging of dairy, juice, and cooking products.
In a statement to the Qatar Stock Exchange (QSE), Baladna said it had acquired 47,116,563 shares for QAR 67 million, which accounts to $18.4m, as part of its plans to expand both within Qatar and other countries.
Baladna seeks to expand the food and beverage sector inside Qatar, in addition to expanding in other countries outside the country, through the establishment of new projects or the acquisition of existing projects, which enhances the value of shareholders’ equity.
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