Qatar’s Baladna increases its stake in Juhayna to reach 15 percent

CAIRO - 4 July 2023: Baladna, a Qatari dairy company, increased its stake in the Egyptian dairy company, Juhayna Food Industries to 15.03 percent. The company bought an additional 600,000 shares in Juhayna for more than LE 7.3 million earlier last week according to a disclosure to the Qatar Stock Exchange.

Baladna now holds what is equivalent to 141,501,582 shares.

In March 2022, Baladna announced that it has acquired 5 percent stake in Juhayna, the EGX-listed manufacturer specialized in the production, processing and packaging of dairy, juice, and cooking products. Baladna then increased its share in Juhayna to 10 percent in May 2022.

Baladna stated that the “Investment decisions are based on very detailed analysis of the market. Egypt’s market with population more than 100 million [has a] large and promising F&B market, according to the disclosure.

Egypt and Qatar have been in talks since last year to promote investment and trade between both countries. Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that the value of trade exchange between Egypt and Qatar increased by 76.2 percent to record $80.1 million in the first 11 months of 2022, compared to $45.5 million in 2021.