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SALIC acquires stakes in Daawat Foods

Friday, 22 May 2020

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Saudi Agricultural & Livestock Investment Company (SALIC) has acquired stakes in Daawat Foods, a subsidiary of LT Foods, through its subsidiary United Farmers Investment Company.

The transaction in DFL entails acquisition of 29.81 percent stake of India Agri Business Fund, sponsored by Rabobank and 0.1 percent stake of REAL Trust, by the United Farmers Investment Company, a subsidiary of SALIC for a consideration of USD 17.23 million.

There will be no impact on the shareholding of LT Foods, as the transaction has been carried out in its subsidiary company.

Further, there is no change in the stake owned by LT Foods in its majority-owned subsidiary DFL. LT Foods will continue to hold the balance stake of 70.09 percent.