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SALIC acquires SAR 209m stake in LT Foods
Phoebe Fraser

Phoebe Fraser

14 November 2022

SALIC acquires SAR 209m stake in LT Foods

The Saudi Agricultural and Livestock Investment Company (SALIC) has announced its acquisition of a 9.2% stake in India-based basmati rice processing company, LT Foods. Through the deal, SALIC aims to build a solid long-term partnership with LT Foods. The company, a subsidiary of Saudi Arabia's Public Investment Fund, says that expanding the scope of international investments is one of its strategic goals to achieve national food security targets. SALIC previously acquired a 30% stake in Dawaat, one of LT Foods’ major rice processing subsidiaries in India. The total consideration for this latest deal is around SAR 209 million (approx. $53.2 million).

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