Arab Finance: Edita Food Industries’ board of directors approved to acquire 100% of the issued share capital of a non-listed company on the Egyptian Exchange (EGX) that operates within the food industry, according to an emailed statement on February 27^th.

Accordingly, the board has authorized Chairman Hani Nabih Berzi or his representative to set the terms of the offer as well as sign it, whilst taking the necessary procedures and approvals as per the relevant laws.

The completion of the acquisition transaction is subject to fulfilling all legal and regulatory requirements.

Moreover, the chairman has been mandated by the board to appoint an independent financial advisor registered with the Financial Regulatory Authority (FRA), and sign any related contracts in accordance with Article (44) of the Listing Rules.

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