Edita Food Industries Company (S.A.E) (CASE:EFID) entered into a non-binding letter of intent to acquire assets of Egyptian Belgian company for Industrial Investments S.A.E. on November 21, 2021. Prior to executing the said transaction, Edita will commence an expedited legal, technical, financial, and tax due diligence investigations of the Assets pursuant to the conditions and assumptions agreed upon. Edita should finalize the due diligence exercise on or before December 15, 2021, following which and subject to the assumptions, an initial draft of the sale and purchase agreement shall be prepared on or before January 15, 2022 provided that the outcome of the due diligence investigation is satisfactory.

Edita Food Industries Company (S.A.E) (CASE:EFID) cancelled the acquisition of assets of Egyptian Belgian company for Industrial Investments S.A.E. on January 3, 2022. No satisfactory agreement has been reached and therefore negotiations on the transaction have been suspended.