Mubasher: ADQ, an Abu Dhabi-based holding company with a broad portfolio of major enterprises, is studying a potential acquisition of a stake in Juhayna Food Industries, as the Emirati company seeks more deals in Egypt, sources told Bloomberg.
The sources referred that there is no certainty ADQ will proceed with any transaction, as the discussions are in the early stages.
Since its launch in 2018, Abu Dhabi's sovereign fund is pursuing investments beyond the UAE, including Egypt.
In 2020, ADQ has invested $1 billion in LuLu Group International, which runs hypermarket chains in the Middle East, to support the grocer’s growth in Egypt.
In March, the fund acquired an Egyptian pharmaceuticals company from Bausch Health Cos in exchange for $740 million.
