An unnamed Saudi company investing in the food sector in the Kingdom, is currently in talks to acquire Egyptian food producer Al Jawhara Group, owned by the Koraytm family, according to Al Mal. An initial offer of EGP1.25 billion was rejected by shareholders, but talks are still ongoing, according to the article. The Saudi firm is planning to invest EGP500 million to restart the company’s operations that were halted due to financial and operational difficulties. Al Jawhara, which was founded in 1979, operates six production facilities that produce tea (brands include the popular Al Gawhara), chips (Chipseco, Masrawy, Mix), extruded snacks, biscuits and sweets (Break Time, Mazzika), as well as croissant (Break Time and Croissant). (Al Mal)