Cairo – Mubasher: Edita Food Industries has signed a non-binding letter of intent to acquire the assets owned by the Egyptian Belgian Company for Industrial Investments.
Edita or any of its designated affiliates or subsidiaries plan to acquire real estate assets, including buildings and lands, from the Egyptian Belgian Company, alongside machinery, equipment, and production lines, according to a bourse filing on Sunday.
Before executing the transaction, Edita will start legal, technical, financial, and tax due diligence investigations of the assets, set to be completed on or before 15 January 2022.
Meanwhile, an initial draft of the sale and purchase agreement shall be prepared, provided that the outcome of the due investigations is satisfactory for Edita.
