Arla Foods Will Not Bid for Egyptian Dairy

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Arla Foods Will Not Bid for Egyptian Dairy

01/07/2015
After a thorough investigation into Arab Dairy Product Company, Arla decided not to place a final offer. However, alternative options to enter the Egyptian market are now being explored.
 
"Our conclusion, based on the due diligence, is that we shall not place a final tender offer for Arab Dairy," says Finn S. Hansen, EVP for Arla's international business group. "Egypt is, however, still an interesting market for us and we are working on alternative options to enter the market soon."
 
Immediately following a non-binding bid that Arla made for all shares in the listed Egyptian dairy company, the company and its team of advisors conducted a thorough due diligence exercise concerning Arab Dairy Product Company. After further assessing the Egyptian cheesemaker, Arla made a firm decision to table its offer and not move forward with a proposal.