First Mills acquires 60% stake purchase in Kenan Arabian

First Mills acquired stake in Kenan Arabianfor SAR 48 mln

First Milling Co. (First Mills) completed the acquisition of 60% of Kenan Arabian Trading Co.’s capital and transferred full ownership of the stake for SAR 48 million, according to a statement to Tadawul.

Kenan Arabian Trading is a single-person limited liability company registered in Saudi Arabia. It functions in the trading and distribution of feed products.

The transaction followed the fulfilment of all terms and conditions stipulated in the agreement, while obtaining all required regulatory approvals from the competent authorities.

First Mills signed, on Sept. 15, a binding agreement to acquire 60% of Kenan Arabian Trading for SAR 48 million, data compiled by Argaam showed.