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

16/10/2023 Argaam
Logo ofMayar Holding Co.

Logo of Mayar Holding Co.

Mayar Holding Co.’s subsidiary, Jedaya Agriculture 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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