Aberdeen increases stake in Egypt’s Juhayna to 5.1 pct

Aberdeen Asset Management increased its stake in Egyptian food firm Juhayna to 5.08 percent from 4.38 percent, the Britain-based fund company said in a statement to the Cairo bourse on Thursday.

Juhayna is Egypt's largest producer of dairy products and juices. Its shares dropped over 7 percent this week after the company's chairman had his personal assets frozen by the government due to alleged links to the banned Muslim Brotherhood.

Aberdeen, an emerging markets-focused fund manager, said in a statement through HSBC Securities Egypt that it bought 1.407 million stocks for LE11.403 million ($1.46 million) for an average price of 8.10 pounds per stock.

($1 = LE7.8300)

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