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Tuesday, 30 June 2020

Edita’s Morocco arm obtains USD 8.2 mn loan to fund new facility

Edita Food Industries’ Morocco-based subsidiary has acquired a MAD 80 mn (c. USD 8.24 mm) from the Arab Bank’s branch in the North African country, the company said in a regulatory filing (pdf). The loan’s proceeds will be used for construction works and to purchase equipment and machinery for the Egyptian snack food maker’s under-construction Morocco plant. Edita is expecting to inaugurate the facility by the end of 2020.

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