SADAFCO inks initial deal to buy Poland’s Mlekoma

01/05/2018 Argaam

 

Saudia Dairy and Foodstuff Company (SADAFCO) said in a bourse statement on Sunday that it had reached a broad agreement on key commercial and legal terms for the acquisition of Poland-based Mlekoma SP.

 

A preliminary share purchase agreement was signed by both parties, signaling their intent to complete the deal.

 

The company acquired a 100 percent stake in VISDAL INVESTMENT SP, to be its holding company in Poland.

 

SADAFCO added it expects to ink a binding deal in at the beginning of the second quarter.

 

Last October, the dairy producer signed a non-binding agreement with Poland’s Mlekoma and its subsidiaries Foodexo and Mlekoma Dairy to continue the due diligence process of acquiring a controlling stake, Argaam reported.

 

The estimated value of the deal is SAR 120 million and will be finalized upon completion of the due diligence process.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.