Cairo – Mubasher: Yehia ben Mohamed ben Awad Benladin, Expedition Investments, and International Dairy Investment and Trevi Holding, majority shareholders of Arabian Food Industries Company (Domty), received a non-binding offer from Arla Foods Amba.
Arla plans to launch a mandatory tender offer to fully acquire the company’s share capital with an initial non-binding valuation amounting to EGP 8.89 billion.
The offer implied an initial non- binding price per share of EGP 31.48 in accordance with article 337 of the Executive Regulations, according to a bourse disclosure.
Arla seeks to voluntary delist Domty from the Egyptian Stock Exchange (EGX) following the transaction.
El Damaty family intends to continue with a shareholding alongside Arla, while Mohamed El Damaty will continue as the CEO of the company.
In 2023, Domty posted consolidated net profits after tax valued at EGP 454.43 million, an annual rise from EGP 265.70 million.
