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Almarai Company (“Almarai”) announces the completion of Almarai Investment Holding W.L.L.’s acquisition of shares to achieve 100% ownership of International Dairy and Juice Limited (“IDJ”), a former joint venture with PepsiCo Global Holdings Limited (“PepsiCo”) in Egypt and Jordan
| Element List | Explanation |
|---|---|
| Announcement Detail | Almarai announces that on 17/02/2023 one of its subsidiaries (Almarai Investment Holding W.L.L), has completed the purchase of PepsiCo’s 48% ownership in IDJ to increase Almarai’s shareholding from 52% to 100%; for a total consideration of SAR 255 M. The purchase amount was funded from Almarai’s internal cash flows. IDJ was a joint venture between Almarai and PepsiCo; its main activities consisting of food & beverage manufacturing & distribution in Egypt and Jordan, as well as exporting to many countries worldwide. PepsiCo has remained a trusted and valued partner since the formation of the joint venture in 2009, however the full ownership of IDJ will allow Almarai to further expand strategically in the wider region. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 51.5
Net Change 0.3 (+0.59%)
Value Traded (Sar) 26,521,464.9
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