Britain’s Aberdeen raises stake in Egypt’s Juhayna to 5.1%

Britain-based fund company Aberdeen Asset Management increased its stake in Egyptian dairy producer giant Juhayna (JUFO.CA) to 5.08 percent from 4.38 percent, the company said in a statement Thursday.

The stake top-up move comes a week after Juhayna’s chairman had his personal assets frozen by the government due to alleged links to the banned Muslim Brotherhood.

Aberdeen, an emerging markets-focused fund manager, added in a statement through HSBC Securities Egypt that it bought 1.407 million shares for 11.403 million Egyptian pounds (US$1.46 million) for an average price of 8.10 pounds per stock.

Aberdeen Asset Management PLC is an international investment management group, operates mainly in the United Kingdom but has a growing presence worldwide, particularly Asia, Oceania and the Americas, with over 2,500 staff, across 37 offices in 25 countries. Its headquarters are in the city of Aberdeen, where Group functions including legal, group information and human resources are located, and has its major investment desks in London, Philadelphia and Singapore.