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Edita revokes non-binding letter of intent with Egyptian Belgian Company

Edita revokes non-binding letter of intent with Egyptian Belgian Company

ArabFinance: Edita Food Industries (EFID) revealed that it has not reached a satisfactory agreement with the Egyptian Belgian Company for Industrial Investments, the manufacturer of the brand “Ole”, according to an emailed press release on January 3rd, 2022.

Hence, negotiations between the two parties have been suspended.

On November, 21st, 2021, Edita announced the signing of a non-binding letter of intent with the Egyptian Belgian Company regarding the acquisition by Edita or any of its affiliates or subsidiaries to assets owned by the Egyptian Belgian Company.

Edita operates in the packaged snack food market. It manufactures, markets, and distributes a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.

 

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