PIF inks MoU with Brazil's BRF to establish poultry JV in Saudi Arabia

Logo of the Public Investment Fund (PIF)

Brazil's BRF Co. stated that it signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) to establish a joint venture (JV) to produce and sell poultry products in the Kingdom.

In a statement, the company indicated that it will own a 70% stake in the project, while the PIF will own the remaining 30%.

The deal includes investments worth nearly $350 million.