Cairo – Mubasher: The Qatar Stock Exchange (QSE)-listed Baladna has acquired a 5% stake in Juhayna Food Industries through a number of purchases worth EGP 285.80 million.

Baladna has purchased 47.11 million shares in the Egyptian company to date, according to a bourse filing on Monday.

These transactions are in line with Baladna's strategy to expand its food and beverages businesses outside Qatar.

It is noteworthy to mention that during the first nine months (9M) of 2021, Juhayna recorded consolidated net profits of EGP 490 million, up 27.7% from EGP 384 million in the year-ago period.