Egypt's Saudi Egyptian Investment and Finance Company said on Tuesday it had acquired 12.5 percent of Arab Dairy Company for 48.6 million Egyptian pounds ($9.1 million).

The company said the move raised the total number of shares it owns in Arab Dairy to about 1.85 million shares or 30.76 per cent of the company. Total number of shares in Arab Dairy, which is listed in the second unofficial schedule, stands at 6 million.

Shares in Saudi Egyptian Investment were 3.6 percent higher at 150.93 pounds by 0954GMT.-Reuters