Mayar’s Jedaya raises stake in Food Developing Trading to 80.9%

16/10/2023 Argaam

Mayar’s Jedaya raises stake in Food Developing

Logo of Mayar Holding Co.

Mayar Holding Co.’s subsidiary, Jedaya Agricultural Co., upgraded its stake in Food Developing Trading Co. to 80.9% from 56.50% by raising the company’s capital from its internal resources.

 

Accordingly, Mayar’s indirect ownership stake in Food Developing Trading rose from 56.1% to 80.33%, the company said today, Oct. 16, in a statement on Tadawul.

 

Mayar stated that the financial impact will be positive in the long term, expecting it to appear in its Q1 2024 financials.

 

Jedaya is a limited liability company (LLC) owned by Mayar Holding at 99.30%. Food Developing is a closed joint stock company (JSC).

 

For More Mergers and Acquisitions

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