Cairo –  The board of directors of Arab Dairy Products Co. (Panda) approved signing sale-and-leaseback deals under financial leasing model for a land plot and some buildings of the company’s factory in El-Qanater El-Khayreya in the governorate of Qalyubia.

At a total value of EGP 422.68 million, the contracts have been signed with Corporate Leasing Company (CORPLEASE), Arab Dairy said in a filing to the Egyptian Exchange (EGX) on Sunday.

The company signed three contracts with Corplease with a total sale value of EGP 175.44 million and a total lease value of EGP 247.24 million for a period of seven years.

It is noteworthy that during the first nine months of 2019, the Egyptian dairy firm reported a net profit of EGP 20.64 million, down from EGP 26.43 million in the prior-year period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.