The UK unit of Saudi Agricultural & Livestock Investment Co. (SALIC) is close to acquiring Mriya Agro Holding Plc, a farming company in Ukraine, Bloomberg reported, citing people familiar with the matter.
The acquisition would take the SALIC-operated farming area in Ukraine to just over 200,000 hectares, the sources said.
The company already manages about 45,000 hectares adjacent to the farms run by Mriya, and the acquisition would create one of Ukraine’s largest farming operations, the report added.
Mriya grows crops including wheat, barley, corn and potatoes in western Ukraine.
Last year, SALIC teamed up with UAE's Al-Dahra Holding to invest in grains and livestock in 10 countries in the region. In 2015, it joined US agribusiness giant Bunge Ltd. to buy a majority stake in the former Canadian Wheat Board to create G3 Global Grain Group.
SALIC was established in 2009 as a joint stock company by the Public Investment Fund (PIF), the Kingdom’s sovereign wealth fund, with a total capital of SAR 3 billion.
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