Almunajem Foods buys 17% of Balady Poultry for SAR 134M

06/03/2024 Argaam
Logo ofAlmunajem Foods Co.

Logo of Almunajem Foods Co.


Almunajem Foods Co. signed a binding share purchase agreement (SPA) today, March 6, with Balady Poultry Trading Co. to acquire 17% of the latter's shares, according to a statement to Tadawul.

 

The company bought the shares from existing shareholders in Balady Poultry through negotiated deals at a purchase price of SAR 120 per share, with a total value of SAR 134.03 million. The transaction has been self-finance, the statement added.

 

For more news and details on M&As

 

Almunajem Foods signed, in October 2023, an MoU to acquire a 17% stake (1.12 million shares) in Balady Poultry, which is listed on the Nomu-Parallel Market, through negotiated deals. The MoU was previously slated to end on Feb. 28, 2024, but was renewed until April 30, 2024, according to Argaam's data.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.