Abu Dhabi’s ADQ said to eye stake in top Egyptian dairy firm

Abu Dhabi’s newest state fund has been weighing a potential investment in Egypt’s largest dairy and juice producer. (Supplied)

• DQ has been among the most active Middle East investors since its inception in 2018

RIYADH: ADQ is considering acquiring a stake in Juhayna Food Industries as the Abu Dhabi sovereign wealth fund pursues more deals in Egypt, Bloomberg reported citing people familiar with the matter.
Abu Dhabi’s newest state fund has been weighing a potential investment in Egypt’s largest dairy and juice producer, the people said, asking not to be identified as the matter is private. Shares in Juhayna have fallen 29 percent this year, giving the company a market value of 4 billion Egyptian pounds ($254 million).
Deliberations are in the early stages and there’s no certainty ADQ will proceed with any transaction, the people said.
ADQ has been among the most active Middle East investors since its inception in 2018 and has been looking for deals beyond the UAE, focusing on Egypt, Bloomberg said.