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UAE's Agthia Approves 75% Acquisition of Egypt's Ismailia Agricultural

Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.
Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.
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UAE's Agthia Approves 75% Acquisition of Egypt's Ismailia Agricultural

Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.
Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.

Abu Dhabi-listed food and beverage company Agthia Group on Wednesday said its board has approved an indirect acquisition of three quarters of Egypt's Ismailia Agricultural and Industrial Investment.

Agthia's acquisition of the 75.02% stake would give Ismailia an enterprise value of 3.22 billion Egyptian pounds ($205.6 million), Agthia said in a stock exchange filing.

Two wholly-owned units of Agthia will be incorporated as private limited companies with nominal share capital in the Abu Dhabi Global Market and used as acquisition vehicles for the transaction.

Agthia, owned by Abu Dhabi state-owned holding company ADQ, has made a series of recent acquisitions as it seeks to become a big player in the region's food and beverage industry.

Ismailia produces frozen chicken and beef products under four brands in the Egyptian market.

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Saudi-Thai Economic and Trade Committee Discusses Boosting Trade

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
TT
TT

Saudi-Thai Economic and Trade Committee Discusses Boosting Trade

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA

The Economic and Trade Committee of the Saudi-Thai Coordination Council held on Thursday its first meeting in Bangkok to strengthen trade relations between the two countries.

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa.

The meeting was chaired by General Authority of Foreign Trade (GAFT) Deputy Governor for International Relations Abdulaziz bin Omar Al-Sukran and Thai Ministry of Commerce Permanent Secretary Vuttikrai Leewiraphan.

The committee aims to strengthen trade relations between Saudi Arabia and Thailand by exchanging expertise; fostering cooperation in economic and developmental fields; promoting food, health, and halal products; advancing industrial development; involving the private sectors of both countries in trade fairs and conferences; and addressing trade obstacles and challenges facing both nations.

The volume of trade between Saudi Arabia and Thailand reached more than $6 billion by the third quarter of 2024. Prominent Saudi exports included mineral products and fertilizers, while major Thai imports to the Saudi market included automobiles and their parts, as well as machinery and mechanical tools and their components.