MANAMA: A major regional holding company is investing $1 billion in a hypermarket chain paving the way for the latter’s expansion into Egypt.
ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has entered into a non-binding agreement with Lulu International Holdings (LIHL), the leading hypermarket and supermarket chain in the Middle East, paving the way for an investment supporting LIHL’s expansion of operations in Egypt of up to $1bn .