Juhayna finalises sale of 40% stake in dairy farming investment Milky’s for cEGP57 million
Juhayna Food Industries (JUFO.CA) announced that its subsidiary, Al-Enmaa for Agricultural Development and Livestock Company, had sold its entire stake of 40% in subsidiary Milky's for Milk Production for EGP56.5 million. This is in line with the company's strategy to divest from milk production in order to focus on investments in agriculture and livestock production. Proceeds from the sale will be used to fund the company's operations expansion and the completion of the milking cows herd to reach 4,000 milking cows. (Company disclosure)
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