M&A WATCH- Pioneers Holding names CI Capital as adviser on Arab Dairy sale: Pioneers Holding has hired investment bank CI Capital to become its adviser on the sale of its cheese-maker subsidiary Arab Dairy, the company said in a bourse filing (pdf). The producers of the Panda cheese brand received interest from UAE-based Gulf Capital’s GC Equity Partners III fund and Netherlands-based FrieslandCampina, the company said. Both were given the go-ahead to proceed with due diligence. Pioneers holds 70% of Arab Dairy.

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