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Wednesday, 29 April 2020

Raya’s BariQ peaks interest of foreign, local investors

M&A WATCH- Raya’s BariQ piques foreign, local investors’ interest: Several unnamed investors have expressed interest in Raya Holding’s recycled plastic producer BariQ, Raya said in a disclosure yesterday (pdf). Raya has received offers of interest for minority and majority stakes as well as proposals to buy out the company but will not study them until it receives binding offers, Raya CFO Hossam Hussein said. BariQ recently announced it’s planning to spend EGP 300 mn to establish new production lines and double its output capacity to 3.2 bn recyclable bottles per year.

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