UPDATE: Egyptian dairy giant’s owner to challenge asset seizure move

Businessman and owner of Egypt’s largest dairy producer Juhayna, Safwan Thabet said Thursday he would appeal against the decision of seizing his assets.

The committee tasked with managing Muslim Brotherhood funds announced in a press conference Thursday that it had seized of Thabet’s assets.

“The decree is strange and unjustifiable.” Thabet told Amwal Al Ghad by phone Thursday.

“I have just made my urgent calls with Prime Minister Eng. Ibrahim Mahlab to know about the decision’s details and the reasons, but I was surprised to find him know nothing about the reasons yet.” Thabet told Amwal Al Ghad by phone Thursday.

In a press conference, Ezzat Khamis – the head of committee tasked with managing Muslim Brotherhood funds, said the decree to seize Thabet’s assets includes the businessman’s liquid, transferred, and real estate assets, without affecting Juhayna since it is a joint stock company.