Qassim Investment sells 6.45% stake in poultry business for SAR 9.38 mln

26/12/2017 Argaam

 

Qassim Investment Holding Co. (QACO) has approved a purchase offer submitted by a shareholder in Pure Breed Poultry Co. to buy QACO’s 6.45 percent stake in the company for SAR 9.38 million, QACO said in a bourse statement.

 

The sale profit, which will be directed to QACO’s investments, is expected at SAR 6.38 million.

 

The book value of QACO’s equity in Pure Breed Poultrystood at SAR 3 million.

 

The relevant financial impact is due to reflect on financial statements for FY18.

 

Pure Breed owns and operates poultry farms and produces animal feed.

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