Cairo – Mubasher: Arabian Food Industries Company (Domty) has received a non-binding initial offer from Expedition Investments to acquire a stake of up to 90% in Domty.

Expedition Investments intends to purchase a majority stake in Domty at an initial value of EGP 5 per share, according to a bourse filing on Sunday.

It is noteworthy to mention that in 2021, Domty achieved net profits of EGP 72.42 million, down from EGP 157.97 million in 2020, including minority shareholders' rights.