Arab Finance: Egyptian businessman and Shark Tank Egypt investor Ahmed Tarek Khalil has fully exited Ajwa for Food Industries Egypt after selling his 8.34% stake in a deal valued at approximately EGP 301.65 million, as per a disclosure.
Khalil sold about 1.68 million shares at an average price of EGP 180.097 per share.
Established in 1985, Ajwa for Food Industries-Egypt is an affiliate of Saudi Arabia-based company, Ajwa Group for Food Industries Holding Company. The company is engaged in the food processing industry, and specializes in the manufacturing, refining, packing, and exporting of edible oils and ghee. It also produces shortening, margarine, butter, and bulk oils. In addition, it produces fatty acids and stearin.