RIYADH: Qatar dairy firm Baladna has increased its ownership stake in Egypt’s Juhayna Food Industries to 10 percent in a deal worth 2.5 million Qatari riyals ($686,624).
Baladna has bought 1.4 million shares in Juhayna, bringing the total investment in the latter to 139 million Qatari riyals, it said in a bourse filing.
Further to a share purchase in 2021, the Qatar-listed company had raised its stake to 5 percent of Juhayna’s capital almost two months ago.
After the series of transactions aimed at expanding the company’s footprint, Baladna now owns 95.4 million of Juhayna’s total shares.
