Saudi's Almarai secures $100mln loan; to expand Jordan, Egypt subsidiaries | ZAWYA MENA Edition:
Saudi Arabia’s Almarai, the largest dairy company in the Gulf states, has received a loan of up to $100 million from the European Bank for Reconstruction and Development (EBRD).
The proceeds from the loan will be contributed to Beyti and Teeba, the company's dairy and juice subsidiaries in Egypt and Jordan respectively, a statement by EBRD said.
Beyti will benefit from up to $90 million to fund its dairy and juice production capacity expansion and growing capital needs. Teeba will receive up to $10 million to strengthen its capital base and fund its permanent working capital needs.
No comments:
Post a Comment