Logo of Public Investment Fund (PIF)
The Public Investment Fund (PIF) has announced the completion of a deal to invest in the Middle East Paper Company (MEPCO), a leading manufacturer specialized in producing and recycling paper-based products in the Middle East and North Africa.
PIF has acquired a 23.08% stake in MEPCO by way of a capital increase and subscription to new shares, the Kingdom’s sovereign wealth fund said in a statement to Argaam.
Through its investment, PIF will enable MEPCO to expand its production, raise its operational efficiency, and support environmental sustainability, through recyclable products – including paper goods – in line with the sustainability goals of both Saudi Arabia and PIF.
The investment will further contribute to achieving MEPCO’s expansion strategy, especially for packaging and specialized building materials like gypsum boards, also known as “drywall,” strengthening the local supply chain for current and future projects.
The transaction was completed after securing approvals from relevant authorities as well as MEPCO’s shareholders, who approved it at an extraordinary general meeting.
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