Egypt - The dispute between the minority shareholder and management in Pepsi Bugshan Investment has finally come to an end. PepsiCo Light B.V. International owns 80% of Pepsi Bugshan and a Saudi investor represented in Bugshan Saudi Arabia owns the remaining 20%. The general assembly was held last June to vote on dismissing the board of directors of Pepsi Bugshan Investment, one of the PepsiCo Egypt companies, provided that the right to vote is limited to the minority shareholder, Bugshan. The sources noted that the minority shareholder who has the right to vote agreed to continue the current board of directors to end the two-year dispute with the management. PepsiCo Egypt is currently negotiating with the parent company in America to pump investments into the Egyptian market, which it hopes would exceed $500m over the next four years, according to Mohamed Shelbaya, managing director of PepsiCo Egypt.

Source: Daily News Egypt July 06, 2023 13:30 UTC