UAE’s Abraaj ups offer for Egypt’s Bisco Misr
24 Nov 2014
(MENAFN) UAE-based Abraaj Investment Management said that it has increased its offered price to acquire shares in Egypt’s Bisco Misr, Arabian Business reported.
Abraaj said that it is now offering USD126.651 as a total purchase price for the stake, despite already getting regulatory approval to buy the stake with its initial offer.
The private equity firm said that its offer remain conditional to the company securing approval to buy a minimum of 51 percent of Bisco Misr’s stake which is known to be Egypt’s main producers of cakes and biscuits.