August 19, 2008

Almarai to Acquire Beyti

Almarai, a dairy company, has signed a non-binding memorandum of understanding for the acquisition of 100% of the International Company for Agro Industrial Projects, or Beyti, a producer and distributor of dairy products in Egypt.

According Almarai, the acquisition represents the execution of a key element of its long term strategy to expand geographically beyond its core territory of the Gulf Co-operation Council.

The consummation of the transaction is subject to among other things, the execution of definitive agreements, due diligence, as well as receiving all regulatory approvals.