**The following data is sourced from an Arla website press release and has not been confirmed by the Egyptian Financial Regulatory Authority or DOMTY.
Arla Foods, a prominent dairy company, has put forward a non-binding offer for a majority stake in Arabian Food Industries Company (Domty), a well-established entity in Egypt with around 4000 employees and two operational facilities. The bid, made on October 15, 2024, suggests a share price of 31.48 EGP, valuing the company at 8,897 million EGP (equivalent to 183m USD based on current exchange rates). Arla intends to delist Domty from the Egyptian stock exchange, while anticipating the El Damaty family, current owners, to retain a shareholding, with Mohamed El Damaty continuing as CEO.
The Press release mentioned that as Domty is a listed company, the non-binding offer is public information. Arla Foods has no further comments on the offer.
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