Lactalis Halawa acquires 100% of Greenland for EGP890mn
Lactalis Halawa, the Egyptian partner of French dairy group Lactalis, reportedly acquired 100% of Americana Group subsidiary cheesemaker Greenland for a total of EGP890mn. Last year, Saudi dairy manufacturer Almarai [2210.SE] was also looking to acquire Greenland for USD75mn, but talks between the two parties were suspended because of a disagreement over the deal’s value. (Al Mal, Enterprise)
Almarai: SAR54.00 as of 22 Jan. 2019, Rating: Buy, TP: SAR56.00/share, MCap: USD14,400mn, ALMARAI AB/2280.SE
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