SALIC, Marfrig pledge $900 mln investment in Brazil's BRF

Logo of Saudi Agricultural and Livestock Investment Co. (SALIC) 

The Saudi Agricultural and Livestock Investment Co. (SALIC) and Brazil's Marfrig expressed their commitment to buying shares in a potential offering by Brazil's BRF that could total $900 million.
 

In a statement, BRF said that SALIC offered to subscribe to nearly 50%, or 500 million shares of the total offer shares, while Marfrig pledged to buy the remaining 250 million shares, Reuters reported.
 

 Set up in 2009, SALIC is a wholly owned subsidiary of the Public Investment Fund. The firm started its investments in 2012 with several companies in the fields of agriculture and trade in grains, rice and meat in several countries, according to data available on Argaam.