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Habibi
Arab Dairy Products Arab Dairy said it had received a letter from GC Equity Partners stating that it did not wish to acquire it as the first strategy and the expansion plan were inconsistent with GC Investment's strategy.
Earlier this month, Arab Dairy received a call from GC Equity Partners requesting a confidentiality review to acquire all of its shares.
The Arab Dairy Products Board of Directors, Arab Dairy, decided at its meeting on 15 June to authorize Friesland Campaina International Holding BV (FCL) to conduct a confidentiality review as part of the his willingness to acquire the first.
Arab Dairy Products was established in 1985 and produces all dairy and cheese products under the Panda brand, pioneers holding approximately 65% of the company's shares.
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