{"id":622114,"date":"2018-11-27T04:21:50","date_gmt":"2018-11-27T04:21:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/edita-to-buy-out-shareholder-in-subsidiary\/"},"modified":"2018-11-27T04:21:50","modified_gmt":"2018-11-27T04:21:50","slug":"edita-to-buy-out-shareholder-in-subsidiary","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/edita-to-buy-out-shareholder-in-subsidiary\/","title":{"rendered":"Edita to buy out shareholder in subsidiary"},"content":{"rendered":"

M&A WATCH- Edita to acquire minority partner\u2019s stake in candymaking subsidiary in EGP 60 mn transaction: <\/strong>Edita is buying out Confindal Ltd\u2019s 22.27% stake subsidiary Edita Confectionary Co. in a transaction worth EGP 60 mn, Chairman Hani Berzi told Al Mal.<\/a> Edita, which already owns 77.7% of its candymaking arm, is nearing a final agreement on the sale, which Berzi said will give Edita full control over expansion decisions going forward. Edita aims to launch a new production line for the subsidiary in the beginning of 2019 and sees great potential in the confectionary sector, Berzi said. Edita will not tap banks for financing for the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Edita to acquire minority partner\u2019s stake in candymaking subsidiary in EGP 60 mn transaction: Edita is buying out Confindal Ltd\u2019s 22.27% stake subsidiary Edita Confectionary Co. in a transaction worth EGP 60 mn, Chairman Hani Berzi told Al Mal. Edita, which already owns 77.7% of its candymaking arm, is nearing a final agreement […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[191,72,564,2394,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622114","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-edita","tag-enterpriseam","tag-food","tag-hani-berzi","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"80a564d0-8a57-4ef5-8be3-c115644bd5ba","order":"0","is_powered_by":true,"section_story_id":"b7bda5ca-eadd-4115-bdeb-d549a369b28e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[622100],"teaser":"","voice_url":""},"yoast_head":"\nEdita to buy out shareholder in subsidiary - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/edita-to-buy-out-shareholder-in-subsidiary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Edita to buy out shareholder in subsidiary\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Edita to acquire minority partner\u2019s stake in candymaking subsidiary in EGP 60 mn transaction: Edita is buying out Confindal Ltd\u2019s 22.27% stake subsidiary Edita Confectionary Co. in a transaction worth EGP 60 mn, Chairman Hani Berzi told Al Mal. 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The introductory SKUS will be priced at at EGP 2 per package. The candies will be produced at the EGP 62 mn E15\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604412,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/03\/egypts-edita-food-industries-to-invest-egp-300-350-mn-next-year-to-increase-capacity\/","url_meta":{"origin":622114,"position":1},"title":"Egypt\u2019s Edita Food Industries to invest EGP 300-350 mn next year to increase capacity","author":"enterpriseam admin","date":"3 December 2018","format":false,"excerpt":"Edita is planning to invest EGP 300-350 mn next year to increase production capacity and finance overseas expansion, CEO and Chairman Hani Berzi said, according to Al Mal. We had noted yesterday that market-leading producer of packaged snack foods is targeting a 10% growth in exports over the next two\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634802,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/edita-looking-into-overseas-production-expansion\/","url_meta":{"origin":622114,"position":2},"title":"Edita looking into overseas production, expansion","author":"enterpriseam admin","date":"24 January 2018","format":false,"excerpt":"Edita, Egypt\u2019s largest producer of packaged snack food, is planning to start overseas operations to offset local currency fluctuations, Bloomberg\u2019s Tamim Elyan writes. 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The new EGP 30 mn plant will be established in the Six October City Polaris Al Zamil industrial park on land the company\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627391,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/earnings-watch-edita-reports-2q2018-results\/","url_meta":{"origin":622114,"position":4},"title":"Earnings Watch: Edita reports 2Q2018 results","author":"enterpriseam admin","date":"31 July 2018","format":false,"excerpt":"\u00a0EARNINGS WATCH-\u00a0Edita Food Industries recorded a net profit of EGP 25.1 mn in 2Q2018, up from a net loss of EGP 1.7 mn during the same period last year, according to the company\u2019s earnings release (pdf). 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