Saudi Company Needs to Purchase Shares in the Organic Meat Company
Description:
Saudi Agricultural and Livestock Investment Company - which is owned by the kingdom"s sovereign wealth fund - has expressed interest in buying up to a 30 percent stake in The Organic Meat Company Ltd.
According to the stock archive, a regulatory filing showed that the interested buyer had engaged consulting firm PricewaterhouseCoopers to conduct due diligence on the local companies.
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The proposed investment is currently in the discussion stage and no binding arrangements of any kind have been agreed with the Saudi entity, he added.
The company reported a net profit of Rs. 411.4 million for 2021-22, up 35.5 percent from the previous year.
In recent months, the company has expanded its exports of meat products to various countries, including the United States of America (USA), Kuwait and Lebanon.
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