S ARABIA: Almarai mulls PepsiCo JV stake increase
Almarai holds a minority 48% stake in International Dairy & Juice
Almarai has said it is in talks with PepsiCo to increase its stake in the joint-venture it formed with the US soft drinks firm in 2009.
International Dairy & Juice (IDJ), in which Saudi Arabia-based Almarai holds a 48% stake, was formed to target growth opportunities in the dairy and juice sector in Southeast Asia, Africa and the Middle East. However, in a stock exchange announcement today (28 February), Almarai said it is "reviewing" the partnership with PepsiCo and its investment in IDJ.
"Almarai is looking at possibly slightly increasing their ownership of IDJ," the statement said. The firm said that an announcement is expected to be made in March, but added that "discussions are still ongoing".
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