Baladna QPSC, Qatar’s largest locally-owned food and dairy producer, has acquired 5 per cent in Egypt’s Juhayna Food Industries in return for a total investment of $18.4 million.
The company in a statement to the Qatar Stock Exchange (QSE), Zawya notes, said it had acquired 47,116,563 shares.
The Egyptian company has recorded consolidated net profits of EGP 490 million in the first nine months (9M) of 2021, up 27.7% from EGP 384 million in the year-ago period.
Baladna, its website says, is 100% Qatari, and one of the largest cattle farms in the region, spreading over an area of 2.4 million sqm.
Qatar’s largest food producer acquires 5 per cent of Egypt’s Juhayna Food Industries
