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Abu Dhabi’s ADQ Said to Eye Stake in Top Egyptian Dairy Firm

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ADQ is considering acquiring a stake in Juhayna Food Industries as the Abu Dhabi sovereign wealth fund pursues more deals in Egypt, according to people familiar with the matter.

Abu Dhabi’s newest state fund has been weighing a potential investment in Egypt’s largest dairy and juice producer, the people said, asking not to be identified as the matter is private. Shares of Juhayna were up 5% at 10:46 a.m. Thursday in Cairo for the biggest intraday gain in more than two weeks, giving the company a market value of 4.2 billion Egyptian pounds ($266 million).