Arab Finance: Edita Food Industries has signed loan agreements to secure two seven-year medium-term loans worth a total of EGP 390 million, the company disclosed on September 18th.
Worth EGP 190 million, the first loan will be used in financing 50% of the value of the acquisition deal of Fancy Foods.
The second loan, which amounts to EGP 200 million, will be employed in financing the investments needed for the company’s new subsidiary Edita Frozen for food Industries, formerly known as Fancy Food.