Saudi Arabia’s Almarai, the largest dairy company in the Gulf region by market value, said it had signed an initial deal to take over a Jordanian beverage firm as part of an expansion plan.
Almarai would buy 75 per cent of Taibah’s Investment and Advanced Food Company, a dairy and juice manufacturer, and finalise after it conducts a legal, technical and financial audit of the firm.
The deal comes one week after Almarai said it would buy Egypt’s International Company for Agricultural Industrialisation Projects (Beeaty).
Almarai did not say how much it would spend to take over the Jordanian firm. It would pay about $112 million to buy Beeaty, reports said citing sources from the Egyptian firm.
