REG - Edita Food Ind SAE - Edita Signs a of Non-binding LOI

Edita Food Industries SAEAnnouncement

22/11/2021 07:05

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211122:nRSV0424Ta&default-theme=true

RNS Number : 0424T  Edita Food Industries S.A.E.  22 November 2021

Edita Food Industries - Announcement of signing the Non-binding Letter of
Intent entered into by and between Egyptian Belgian Company for Industrial
Investments S.A.E. and Edita Food Industries S.A.E.

Edita Food Industries S.A.E.  (" Referred herein after as Edita Company,")
announces the signing of the Non-binding Letter of Intent that it entered into
with the Egyptian Belgian Company for Industrial Investments S.A.E, which is
the manufacturer of the brand

"Ole", a manufacturer of croissant, cakes, and doughnuts.  (" Referred herein
after as the Egyptian Belgian Company ") regarding the acquisition by Edita or
any of its designated affiliates or subsidiaries to assets owned by the
Egyptian Belgian Company, including real estate assets  such as lands and
buildings  as well as machinery, equipment, and production lines.

 

Noting that prior to executing the said transaction, Edita Company will
commence an expedited legal, technical, financial, and tax due diligence
investigations of the Assets pursuant to the conditions and assumptions agreed
upon.

 

Edita Company should finalize the due diligence exercise on or before 15
December 2021, following which and subject to the Assumptions,  an initial
draft of the sale and purchase agreement shall be prepared on or before 15
January 2022 provided that the outcome of the due diligence investigation is
satisfactory for Edita company.

 

 

-Ends

 

Contacts

Ms. Menna Shams El Din

Investor Relations and Business Development Senior Director

T: +202 3851 6464 | M: +20 100 1542428 |  menna.shamseldin@edita.com.eg
(mailto:%20menna.shamseldin@edita.com.eg)

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  LOIDKDBNNBDDADB