Pioneers Holding announced that it has won the battle for buying Egypt's Arab Dairy as it submitted bid price of EGP71.11 per share higher than the rival bid at EGP 71 per share which was submitted by Al Noor for Dairy Industries Co. a subsidiary of France’s dairy maker Lactalis.

Arab Dairy's stocks will resume trading in Egyptian Stock Market, Pioneers CEO Walid Zaky said.

"We will pump new investments into Arab Dairy and increase production plans" Zaky said.

Elaborated, Pioneers CEO said the acquisition was part of his company's efforts to expand in the food sector.

Zaky ruled out the company's intention to divest any of its investments in the meantime.