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Article: Tasty-Chipsy merger takes shape.
- Article from:
- MEED Middle East Economic Digest
- Article date:
- January 19, 2001
CopyrightCOPYRIGHT 2001 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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US-owned PepsiCo has extended its regional reach in the Middle East by pushing through a merger between its wholly-owned subsidiary Tasty Food Egypt and local potato crisp market leader Chipsy for Food Industries.
Tasty Food's purchase of Chipsy for Food will result in a new company to be known as Chipsy International.
Chipsy International will make a public bid for 100 per cent of Chipsy for Food shares at [pound]E 15.15 ($4) a share. This values the deal at [pound]E 430 million ($112 million). The tender is due to close in the second half of January. The government instituted the tender process for merger and acquisition transactions to ensure greater ...