S\u00e3o Paulo \u2013 Brazilian company BRF announced that its subsidiary in Saudi Arabia has acquired 26% of Addoha Poultry Company, a poultry processor in the Arab country. The purchase was made by BRF Arabia Holding Company, known as BRF Arabia, a joint venture with 70% ownership by BRF and 30% by Halal Products Development Company (HPDC), a subsidiary of the Saudi Public Investment Fund (PIF).<\/p>\n\n\n\n
BRF says the transaction amounted to SAR 316.2 million, equivalent to USD 84.3 million, of which SAR 216.2 (USD 57.6 million) will be injected into Addoha<\/a>. The company also mentions that an agreement will be established between BRF Arabia and the current shareholders of Addoha, ensuring effective participation in management and that the know-how of BRF and HPDC contributes to maximizing synergies between the entities. The closing of this operation is subject to approval by regulatory authorities.<\/p>\n\n\n\n According to the statement released by BRF on Thursday (31), this investment marks an important step in strengthening its portfolio and operations in the Middle East, further establishing itself as a key partner in Saudi Arabia\u2019s food security agenda. The Brazilian company has been operational for fifty years and is a market leader with its iconic brands.<\/p>\n\n\n\n Read more: Translated by Guilherme Miranda<\/strong><\/p>\n
<\/em>Brazil\u2019s BRF, KSA\u2019s SALIC sign 200,000 tons deal<\/a><\/p>\n\n\n\n