UAE-based food and dairy player National Food Products Company (NFPC) will close a deal to acquire the Nile Company for Food Industries (Enjoy), currently owned by Qalaa Holdings (CCAP.CA) by end of April, according to Al Mal newspaper. NFPC has completed due diligence which it had exclusive rights to; Qalaa could not field any other offers for Enjoy until NFPC submitted one or withdrew from the deal. Both parties have agreed to the terms of the transaction, as per the newspaper article in Al Mal newspaper. Currently, Enjoy’s assets are idle with the brand absent from the market. The sale comes as part of Qalaa’s strategy to divest some assets; recently the company sold of sesame-based products producer Rashidi Al Mizzan to Olayan as well as cheese company Al Misriyeen.     Yesterday, Almarai announced its interest in acquiring a majority stake in NFPC and began due diligence on the deal. Accordingly, should the deal go through NFPC’s acquisition of Enjoy would expand Almarai’s asset base and production capacity in Egypt as it currently owns dairy and juice player Beyti through its 52%-owned JV with PepsiCo, IDJ.     NPFC is one of the UAE’s largest manufacturers and distributors  of food and dairy that sells brands such as Milco, Lacnor and Oasis bottled water in addition to having a joint venture with Danish dairy player Arla Foods. (Al Mal, company disclosure, Nada Amin, Hatem Alaa)   Almarai: SAR56.75 as of 17 April 2016, Rating: Neutral, FV: SAR48.75 per share, MCap: USD12,107 million, ALMARAI AB / 2280.SE