The Egyptian "atmosphere" is about to acquire 70% of the Saudi -"Atto" by exchanging shares

The Egyptian Food Industries Company, “Awla”, works to complete the acquisition in the coming weeks, 70% of the Saudi -“Atto” business, which works in logistics services by exchanging shares, amid its plans to expand the Saudi market, according to Ahmed Tariq, chairman of the directors. In an interview with “Al -Sharq”, he noted that the company was interested in the Saudi market, to the main market in Egypt, and it considers it a promising market that has registered a request to the company’s products. Tariq explained that the expansion of plans comes for an ‘atmosphere’ to open branches in the kingdom in the coming months, in addition to expanding the presence of ‘Basma’ business, which Tariq is also at the head of his board. In the coming period, Tariq expects positive prospects for Egyptian food and agriculture exports, but he believes that producers in Egypt should focus on agricultural products that do not waste large amounts of water and generate hard currencies in good quantities. Tariq told Al -Sharq in December last year during his attempt to isolate the previous board, that he wanted to increase its share in a ‘atmosphere’, which most of his shares have the Saudi billionaire Mohammed bin Issa, from 9.6% to 25%, and then he writes his intention to isolate the company’s board of directors. Budget, considering that “the results of the business must be much better than that to change the board.” to receive sunflower, soy and wheat, Russian, Russian and its intention, according to the company’s website on the internet.