PIF-owned SALIC to acquire 9% in India's LT Foods

Waffa Wael
SALIC strives to invest聽in targeted food commodities within聽抖阴短视频鈥檚 food security strategy. (Shutterstock)
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RIYADH: The Public Investment Fund-owned Saudi Agricultural and Livestock Investment Co. has purchased a 9.2 percent stake in India-based LT Foods Limited totaling SR209 million ($44 million), said in a statement on Thursday.

In terms of expanding the scope of international investments, SALIC strives to invest in targeted food commodities within 抖阴短视频鈥檚 food security strategy. 

In early 2020, SALIC acquired a 30 percent stake in Daawat which is one of LT Foods major rice processing subsidiaries in India.

The market listed company on India's National Stock Exchange, LT Foods, recorded a consolidated revenue of around $715 million in 2021.

Topics: Tadawul All Share Index (TASI)