Kellogg Co makes bid approach to Egypt's Bisco Misr-statement
CAIRO Aug 31 (Reuters) - Kellogg Co, the world's top breakfast cereal maker, is interested in acquiring at least a 51 percent stake in Bisco Misr, the Egyptian snack maker, Bisco Misr said in a statement on Sunday.
Bisco Misr is one of the country's main bakers, producing more than 90 types of biscuits and cakes.
Kellogg asked to conduct technical and financial studies of Cisco Misr, with an eye to acquiring at least 51 percent of its shares and possibly all of them, Bisco Misr said in the statement it posted on the bourse.
In July, Bisco Misr said Abraaj Investment Management, an affiliate of United Arab Emirates' Abraaj Capital, had also made an approach to buy at least a 51 percent stake in Bisco Misr. (Reporting by Asma Alsharif; Editing by Larry King)
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