Egypt’s Juhayna Food Industries chairman Safwan Thabet was arrested on Monday pending an investigation, the company said on Wednesday.
For all the latest headlines follow our Google News channel online or via the app.
The reasons behind the arrest were unknown to the company, Egypt’s largest dairy products and juices producer, said in statement to the bourse, which earlier suspended its shares. Juhayna will hold an emergency board meeting but continue to operate normally, the firm added.
Two security sources told Reuters that Thabet had been arrested for alleged “financial irregularities”. A company representative and the interior ministry could not be immediately reached for comment.
Egypt dairy, juice firm Juhayna says net profit falls 23%Egypt’s Juhayna Food Industries, one of the country's largest dairy product ... Retail
IMF reaches agreement with Egypt upon first review of $5.2 bln financing agreementThe International Monetary Fund (IMF) said on Monday it had reached a staff-level ... Middle East
Egypt’s headline inflation quickens to 4.5 percent in OctoberEgypt’s annual urban consumer price inflation rose to 4.5 percent in October from ... Economy