Abraaj Investment makes bid approach to Egypt’s Bisco Misr

Abraaj Investment Management, an affiliate of United Arab Emirates’s Abraaj Capital, has made an approach to buy at least a 51% stake in Egypt’s sweet snack maker Bisco Misr, the Egyptian firm announced in a statement on Sunday.

“Abraaj Investment Egypt Limited have requested… to conduct (technical and financial) studies on the company with the intention of acquiring all its shares, with a minimum of a 51 percent stake,” Bisco Misr said in the statement.

Source: Reuters