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Saudi dairy and agribusiness group NADEC has agreed to buy its partner’s 49% stake in Al Raie National Livestock Company for SAR 23.7 million ($6.32 million), taking full ownership of the business.
Al Raie focuses on intensive livestock farming and meat production and is part of a food‑security project in the Hail region. The acquisition will be funded from NADEC’s internal resources.
The stake is being acquired from Anaam Saudi for Trading Company, a unit of Al Muhaidib Group, with the deal subject to approvals, including from the Agricultural Development Fund.
(Writing by Ahmad Mousa; editing by Seban Scaria)
