PHOTO
The Saudi Agricultural and Livestock Investment Co (SALIC), a wholly owned subsidiary of the Public Investment Fund (PIF), has acquired a 12.6% stake in the London Stock Exchange-listed MHP SE, a food and agrotech company headquartered in Ukraine.
SALIC acquired 13.5 million of MHP’s global depositary receipts (GDRs) on the market, according to an LSE disclosure, a move that the Saudi company said aligns with its efforts to expand its global business and build on a value chain that connects global and local markets.
The PIF company said it was looking to leverage MHP’s position as a producer of poultry in Europe and one of the largest producers of grain and vegetable oils in Ukraine, with access to fertile agricultural lands in the Black Sea region.
MHP currently manages more than 300,000 hectares of agricultural land and produces 2 million tonnes of grain, 800,000 tonnes of poultry meat, and 400, 000 tonnes of edible oil.
SALIC was established in 2012 under the umbrella of Saudi’s sovereign fund to contribute to achieving the kingdom’s food security strategy.
(Writing by Bindu Rai, editing by Seban Scaria)
