Juhayna to merge 4 industrial subsidiaries
Updated 11/24/2024 10:34:00 AMArab Finance: Juhayna Food Industries Company's (JUFO) board of directors has decided to merge four of its industrial subsidiaries, as per a disclosure sent to the Egyptian Exchange (EGX) on November 24th.
These companies are Elmasreya for Dairy Products Company, Eldawleya Modern Food Industries Company, Egyptian Food Industries Company (Egyfood), and El Marwa Food Industries.
The merger will be based on the book value as per the companies' 2023 financial statements.
Additionally, Juhayna has decided to add new activities to the company's scope following the merger.
This includes amending Article 3 of the company's Articles of Association, which will be presented to the extraordinary general assembly (EGM) for approval.
The authorized and issued capital of the company will remain unchanged after the merger, although articles 6 and 7 of the articles of association will be amended to reflect the changes resulting from the merger.
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