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FINANCIAL NEWS
UAE’s Gulf Capital acquires stake in Egypt’s MEG
06 Oct 2014
(MENAFN) Gulf Capital, the Abu Dhabi-based alternative investment firm, announced it has acquired a minority stake in Egypt’s Middle East Glass Manufacturing (MEG), though the company did not disclose the percentage of the stake it bought or how much the firm paid for it, Arabian Business reported.
MEG is known to be a worldwide approved supplier of glass bottles for Coca-Cola, as well as being an approved supplier for Pepsi, Nestle and other major beverage producers locally and regionally.
Gulf Capital said that this investment will give the firm exposure to the fast growing food and beverage sector, as well as allowing the firm to share in the recovery and growth of the Egyptian market.
“We are thrilled to be partnering with the leading food and beverage packaging company in the largest Arab nation,” CEO of Gulf Capital said
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