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Sun 17 Apr 2016 12:45 PM

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Saudi's Almarai says seeks controlling stake in UAE's National Food Products

FPC is one of the largest food and dairy manufacturers and distributors in UAE and markets brands including Milco, Lacnor and Oasis bottled water

Saudi's Almarai says seeks controlling stake in UAE's National Food Products

Saudi Arabia's Almarai wants to buy a controlling stake in the UAE’s National Food Products Co (NFPC), the Riyadh-listed firm said on Sunday.

NFPC has invited Almarai, the Gulf's largest dairy company, to conduct due diligence as part of a competitive sales process, according to a statement to Riyadh's bourse.

In December, Reuters reported that Almarai was one of several companies to have shown an interest in NFPC, citing sources.

NFPC is one of the largest food and dairy manufacturers and distributors in UAE and markets brands including Milco, Lacnor and Oasis bottled water.

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