Egypt: Al Safy Foods seeks to acquire military-owned Safi

Amr Dalsh

Al Safy Foods is currently preparing its financial offer to acquire Safi, the sources noted, adding that the firm appointed an advisor for the potential deal

Staff Writer, Arab Finance

October 23, 2023

PHOTO

Egypt - Al Safy Foods, a subsidiary of Al Safy Group, is planning to submit an offer to acquire the military-owned National Company for Producing and Bottling Water (Safi) within the coming weeks, sources familiar with the matter told Al Borsa news.

Al Safy Foods is currently preparing its financial offer to acquire Safi, the sources noted, adding that the firm appointed an advisor for the potential deal.

The sources said that UAE-based Agthia has withdrawn from the competition for the acquisition of Safi.

The process of selling Safi’s stake could be extended to early 2024, they pointed out.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO