Baladna now owns 95.4 million QAR of Juhayna’s total shares.
Qatar’s leading and largest dairy producer Baladna Company has increased its ownership stake in Egypt’s Juhayna Food Industries to 10.1 percent, in a deal worth 2.5 QAR million, which equates to $686,624.
The 100%-owned Qatari firm has purchased 1.4 million shares in Juhayna, bringing the total investment in the latter to 139 million QAR, according to the Qatar Stock Exchange.
The purchase of a 10.1 percent stake was made through a series of transactions between July 13, 2021 and March 6, 2022.
In March, the Qatari dairy company acquired a five percent stake in Juhayna company for 67 million QAR. Juhayna is listed on the Egyptian Stock Exchange.
In a statement published on the Qatar Stock Exchange website on Monday, Baladna said that the number of shares acquired amounted to approximately 47.117 million shares, with a total investment of about 67.085 million QAR.
In February, Baladna signed an agreement to produce dairy products in the Philippines.
The project is expected to increase the Philippines’ local milk production by 120 million litres. This is a significant jump from their current 26.71 million litres.
“The investments will be able to generate 2,000 new jobs during the initial phase of its first full year of operations, providing significant opportunities for domestic employment,” said William Dar, the Secretary of Agriculture of Philippines.
In August 2021, the big Qatari firm signed a deal to produce dairy products in Malaysia.
Baladna agreed with Malaysia’s state-owned FELCRA Berhad and agriculture giant FGV Holdings to produce 100 million litres of milk yearly.
The agreement was set to create a dairy herd of 10,000 high-yielding milking cows, double the production of Malaysian fresh milk within two years (from the time of signing), and use the joint venture farm to support small rural farms through enabling them to build cattle fattening and animal feed farms by 2024.
Baladna Company continues to expand immensely both on a national and an international level. This comes after the 2017 GCC crisis shifted the Gulf country’s production objectives, prompting it to prioritise national production.
The company owns more than 24,000 Holstein cows on its 2.6 million square-meter facility with 40 state of the art barns. It produces about 450 tons of fresh milk and juice products daily.