Saudi Arabian dairy company Almarai is one of the potential suitors for a majority stake in UAE dairy manufacturer NFPC, according to Reuters.
Quoting sources close to the deal, the news agency reported that Almarai was one of several companies interested in the stake, which in October was being valued at around $1.5bn.
According to Reuters, “Almarai is looking to spend up to 21bn SAR ($5.6bn) in investment between 2016 and 2020 to expand its business, including in the areas of farming, manufacturing, distribution and logistics.
“The Saudi firm announced on Monday it was planning to boost its capital by a third next year through the issuance of bonus shares to help support growth plans outlined earlier this year.”
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