Arab Finance: The Financial Regulatory Authority (FRA) has approved Denmark-based Arla Foods’ request to extend the deadline for submitting a purchase offer for Domty by 60 working days, starting from January 9^th, according to a statement.

Arla Foods initially announced in October its intention to acquire up to 100% of the shares of Domty, a leading local cheesemaker, in a transaction estimated at EGP 8.9 billion.

The acquisition would result in Domty’s delisting from the Egyptian Exchange (EGX).

The extension provides Arla Foods additional time to finalize its offer as part of its plans to expand its presence in the Egyptian market.

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