Saudi Agricultural & Livestock Investment Co. (SALIC) on Wednesday completed the acquisition of Almarai’s 66 percent stake in United Farmers Holding Co. (UFHC), the company said in a statement.
Accordingly, SALIC has now raised its holding to 100 percent in UHFC, a Saudi firm that owns an agricultural company in Ukraine that manages 44,000 hectares of crop production.
No further details were disclosed about the deal value.
The acquisition comes as part of SALIC’s strategy that aims to improve the Kingdom’s food security.
Earlier this month, SALIC bought the Saudi-based dairy producer’s 33 percent holding in UFHC for SAR 105 million, Argaam reported.
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