The Saudi Agricultural and Livestock Investment Company (SALIC), a wholly-owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF) has acquired a 12.6% stake in poultry producer, MHP.
SALIC obtained the stake by purchasing 13.51 million of MHP’s global depository receipts (GDRs) in the market, the Ukraine-based company said in a statement.
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 is one of the world’s top 10 poultry producers. The company 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.
