Agthia Group Acquires Majority Stake in Egypt’s Atyab

Agthia Group Acquires Majority Stake in Egypt’s Atyab
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Agthia Group Acquires Majority Stake in Egypt’s Atyab

Agthia Group Acquires Majority Stake in Egypt’s Atyab

Agthia Group, the UAE’s leading food and beverages company, has announced that it has completed the strategic acquisition of a majority stake in Ismailia Investments, Atyab, the Egyptian producer of frozen processed chicken and beef products.

Agthia has acquired a majority stake of 75.02% in Ismailia Investments. Atyab’s founder and leader, industry veteran Attito Raslan, will retain a stake in the company and build on his successful track record of growing the business with the backing of Agthia’s financial strength, wide regional reach and industry expertise.

Atyab has a processing capacity of around 70,000 tons per year through its facilities and production lines, including a 60,000 sqm manufacturing facility.

Building on its recent complementary acquisition of Nabil Foods in Jordan, Agthia will leverage Atyab to strengthen its position at the forefront of the MENA region’s growing processed protein sector, it said in a statement.

The acquisition will enable Agthia to quickly benefit from new revenue streams, cost and revenue synergy opportunities, wider regional and channel expertise, expanded product offerings, and enhanced financial performance and profitability, it said.

“We are delighted to complete this acquisition that further strengthens our position in the processed protein sector and provides access to millions of new consumers in one of the MENA region’s fastest-growing economies,” the statement quoted Alan Smith, Chief Executive Officer of Agthia Group, as saying.

Raslan said: “The conclusion of this transaction is a key milestone in Atyab’s growth story. The potential of being part of Agthia’s portfolio is very significant and I look forward to working with the group to take Atyab to its next phase of success.”



Oil Sinks 4% as US Kicks Off 104% Tariffs on China

NOLAN, TEXAS - APRIL 08: An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas. Brandon Bell/Getty Images/AFP
NOLAN, TEXAS - APRIL 08: An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas. Brandon Bell/Getty Images/AFP
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Oil Sinks 4% as US Kicks Off 104% Tariffs on China

NOLAN, TEXAS - APRIL 08: An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas. Brandon Bell/Getty Images/AFP
NOLAN, TEXAS - APRIL 08: An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas. Brandon Bell/Getty Images/AFP

Oil prices dropped to their lowest in more than four years on Wednesday on looming demand concerns fueled by an escalating tariff war between the US and China, the world's two biggest economies, and a rising supply outlook.
Brent futures lost $2.38, or 3.79%, to $60.44 a barrel as of 0423 GMT. US West Texas Intermediate crude futures fell $2.46, or 4.13%, to $57.12. Both contracts touched their lowest level since February 2021.
The six-month spread for Brent <LCOc1-LCOc7> slumped to 79 cents, its lowest level since mid-November, as the market was seen moving into a potential surplus. The spread has collapsed 86% from a high of $5.69 on January 15 that reflected tightening supply and expectations of a revival in Chinese demand.
Both Brent and WTI have tumbled over the five consecutive sessions since US President Donald Trump announced sweeping tariffs on most imports sparking concerns a global trade war would dent economic growth and hit fuel demand, Reuters reported.
Trump's 104% tariffs on China kicked in from 12:01 a.m. EDT (0401 GMT) on Wednesday, adding 50% more to tariffs after Beijing failed to lift its retaliatory tariffs on US goods by a noon deadline on Tuesday set by Trump.
Beijing vowed not to bow to what it called US blackmail after Trump threatened the additional 50% tariff on Chinese goods if the country did not lift its 34% retaliatory levy.
"China’s aggressive retaliation diminishes the chances of a quick deal between the world’s two biggest economies, triggering mounting fears of economic recession across the globe," said Ye Lin, vice president of oil commodity markets at Rystad Energy.
"China’s 50,000 bpd to 100,000 bpd of oil demand growth is at risk if the trade war continues for longer, however, a stronger stimulus to boost domestic consumption could mitigate the losses," she said.