PIF transfers shares in Almarai, NADEC, Saudi Fisheries to SALIC

Logo of PIF  

The Public Investment Fund (PIF) transferred its 16.32% stake in Almarai Co., 20% stake in National Agricultural Development Co. (NADEC) and 39.99% stake in Saudi Fisheries Co. to its wholly-owned subsidiary, Saudi Agricultural and Livestock Investment Company (SALIC). The transfer of ownership has been approved by all the relevant stakeholders.

The transfer of ownership has been approved by all the relevant stakeholders.  

The transfer aims to develop and support SALIC’s mission as PIF’s investment arm in the food and agriculture sector, stimulate growth in the sector, and leverage synergies within PIF’s portfolio.  

It also comes in line with PIF’s investment strategy 2021-2025, which focuses on unlocking capabilities of promising non-oil sectors, including contributing to Saudi Arabia’s food security strategy.  

SALIC has extensive experience in managing food and agriculture investments, which contributes to food security in the Kingdom. The company’s contributions will be especially significant in the wake of the COVID-19 pandemic, which emphasized the strategic importance of supporting the stability of food supply chains.   

The transfer is also expected to enable PIF to utilize SALIC’s strategic partnerships, technological and logistical capabilities.  

Under the fund’s five-year strategy, the PIF and its subsidiaries aim to contribute SAR 1.2 trillion to non-oil GDP cumulatively, by the end of 2025, through growth opportunities for strategic and vital sectors in the Kingdom. 

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