30 Dec 2014
(MENAFN) Egypt’s financial regulator said that it has extended the bidding period for Bisco Misr until Jan. 11, as the bidding battle continues between Kellogg, the world’s largest breakfast cereal maker, and UAE-based Abraaj Asset Management, Arabian Business reported.
The decision made by the regulation authority comes after Kellogg raised its bid for the Egyptian snack maker, topping an offer from private equity company Abraaj in an intensifying USD144 million battle.
Abraaj, the Middle East’s largest private equity firm, has been battling Kellogg since last month, when the U.S. group made a surprising deal to snap up the Egyptian cake and biscuit maker, despite the shareholders of Bisco Masr giving their initial approval of the bid made by Abraaj.
Both companies have said that acquiring Bisco Misr, which is an established brand with three factories in Cairo and Alexandria, will enhance their business as it would give them a window into the food market of the Arab’s world most populated country of 86 million people.
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
26 Jan 2026
BBK Enhances Autumn Fair 2026 Experience with Customized Rewards and Premium Services
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more