Sunday 13/April/2025 – 10:21 am
The Danish company ARLA Foods, which specializes in food industries, confirmed its retreat from completing the acquisition of Domati, which is restricted on the Egyptian Stock Exchange, despite its desire to expand within the Egyptian market.
She explained in a statement, which was published on the stock exchange screens, that it is not possible to complete the procedures for the exact examination of ignorance and submit an offer to buy on the shares of the Arab Food Industries Company-Domati, after the latter’s decision to proceed with the procedures for dividing the company.
She added, that it did not end the procedures for the violent, technical, civil, and financial ignorance of ignorance, due to the announcement of the Domati company to start an internal division process, which led to fundamental changes in its organizational structure.
Accepted Domati Company
She pointed out that this requires waiting for what will result in the division process to be carried out by Dumati in order to be able to complete the procedures for exile for ignorance.
The company noted that the initial contracts for the deal have not been completed due to the current developments, and that it is awaiting the completion of the Domati Company for division procedures so that it can reassess the deal and follow up the necessary procedures.
ARLA confirmed its continued communication with the Domati administration and its main shareholders, its follow -up to the course of the division process, stressing that the possible purchase offer will depend on the results of the final examination, the approval of the parties concerned, and the fulfillment of the regulatory requirements from the Financial Supervisory Authority.
The Arab Food Industries Company- Domty decided to divide the company into two companies, and to appoint the office of Maatouk Bassiouni and Hinnawi Legal Consulting and Law as a legal advisor to the company in the division process and they have all the powers in representing the company in front of the administration authorities to complete the division procedures.
This came after a previous disclosure of my country, in which she said that she was studying and negotiating the exclusion of the bakery sector from the “Arla Foods Danish” deal.
Last January, the Financial Supervisory Authority in Egypt agreed to extend the deadline for submitting a compulsory purchase from Arla Foods AmbA; To acquire the shares of the Arab Food Industries Company- Domty; For another 60 days, and ended on April 9.
It is noteworthy that the Arab food industries – Domty achieved profits of 501.17 million pounds during 2024, compared to profits of 454.43 million pounds in 2023, taking into account the minority rights.
