BinDawood Holding obtains SAR 542m financing for international acquisition
· Egyptian market news
BinDawood Holding Company has secured a Sharia-compliant Murabaha financing facility totaling SAR 542 million, according to a bourse filing.
The credit facility was provided by Banque Saudi Fransi and Gulf International Bank (GIB) to support the group’s international expansion strategy.
BinDawood Holding intends to utilize the financing to fund the acquisition of dairy production assets belonging to AS E-Piim Tootmine that is located in Estonia.
The transaction will be executed through BinDawood Holding’s wholly-owned subsidiary, Just and Jobin OÜ.
According to the regulatory filing, the financing carries a maturity period ranging between three and five years, with the date of obtaining the amount is 25 August 2026.
BinDawood Holding confirmed that there are no bank guarantees provided against the financing and noted that no related parties were involved in the transaction.
This move marks a significant step for the retailer as it integrates upstream production assets within the European dairy sector into its portfolio.