Al Nour for Dairy Industries, an Egypt-based processed cheese company, owned by Mohamed Halawa and Lactalis (a multinational French dairy products company), is reportedly in talks to acquire Americana Group’s cheese production subsidiary Greenland Group for Food Industries, according to local newspapers. Almarai has been reportedly looking to acquire Greenland in a USD75mn transaction, but talks have fallen through on disagreements over the transaction value. The company is expected to complete due diligence on Greenland during 1Q19, with the deal value yet to be disclosed. Greenland has been in the red for seven years but returned to profitability in 2015. 
 
Almarai: SAR48.50 as of 3 Jan. 2019, Rating: Buy, TP: SAR56.00/share, MCap: USD12,933mn, ALMARAI AB/2280.SE