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The price at which the instrument will convert into shares in Agthia is Dh5.50 per share, implying an equity value of Dh394 million ($107.3m) for ADQ's stake in Nabil Foods. Nabil Foods has a processing capacity of 43,000 tonnes a year and more than 600 product lines. Agthia, which owns water brands such as Al Ain and Al Bayan, has been on an acquisition spree in a bid to expand its offerings. It recently acquired Kuwait's Al Faysal Bakery & Sweets and Al Foah, the world's largest date-processing and packaging company. The company also bought a 75 per cent stake in Egypt's Ismailia Investmen...

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Dubai: Abu Dhabi Agthia Group will own 80 per cent in Jordan Nabil Foods, one of the biggest names in the region for frozen foodstuff. This includes the 60 per cent Agthia will pick up from another Abu Dhabi entity, ADQ, for Dh394 million. All of the regulatory approvals have been received for the deal to proceed, which was first announced last month. Agthia has in recent months been busy with acquisitions and mergers, including that done with Al Foah - the world's biggest dates processing company. As for Nabil Foods, its products are distributed in more than 20 markets. “This acquisition...

The company, which operates the Al Ain water brand, says the deal will help it tap into new revenue streams

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