Pioneers Holdings

Arrow Food, a partnership between the Saudi Bin Laden Group and Foodstuff Group, has entered the race to acquire Arab Dairy Products, offering to buy 100% of the company. Arrow Food has made an offer for EGP57.12 ($7.98) per share, beating the offer from Pioneers  Holdings. The latter, which already holds a 25% stake in Arab Dairy, made an offer of EGP56 a share to buy 60.2% of the company. …