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 ¶¶Òõ¶ÌÊÓƵ’s food security strategy.Â
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.
