Abraaj Investment Management makes bid approach to Bisco Misr

Abraaj Investment Management, an affiliate of United Arab Emirates's Abraaj Capital, has made an approach to buy at least a 51 percent stake in Egypt's sweet snack maker Bisco Misr, Bisco Misr said in a statement on Sunday.

"Abraaj Investment Egypt Limited have requested... to conduct (technical and financial) studies on the company with the intention of acquiring all its shares, with a minimum of a 51 percent stake," Bisco Misr said in the statement.