Cairo – Mubasher: Raya Holding for Technology and Communications is negotiating to buying a minority stake in the leading Polish food producer, Makarony Polskie, according to a bourse filing released Thursday.
Neither the targeted stake nor the bid value was disclosed in the statement, which indicated that closing the deal is contingent upon final talks with Makarony's shareholders and due diligence report.
Earlier, Samer El Waziri, CFO of Raya Holding, exclusively told Mubasher magazine that the company was planning to tap into the Kuwaiti and Polish markets and to pump EGP 150 million investments during 2016.
By 10:28am, the stock was 3.19% higher to EGP 4.20 after 48,900 shares were traded at EGP 208,500 on Thursday.
