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FINANCIAL NEWS
UAE’s Abraaj to buy 51 percent stake in Egypt’s Bisco Misr
14 Jul 2014
(MENAFN) Abraaj Investment Management, an affiliate of United Arab Emirates’ Abraaj Capital, plans to buy 51 percent stake or more in Egypt’s snack maker Bisco Misr, according to Arabian Business.
Bisco Misr said: “Abraaj Investment Egypt Limited have requested … to conduct (technical and financial) studies on the company with the intention of acquiring all its shares, with a minimum of a 51 percent stake.”
Dubai-based Abraaj Capital, the Middle East’s largest private equity firm, will make the purchase as part of its plan to expand in emerging markets.
Abraaj Group published a statement on its website confirming it had made an expression of interest to shareholders representing a controlling stake in Bisco Misr on behalf of funds advised by Abraaj.
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