NADEC to sell stake in Pure Breed Poultry

26/04/2017 Argaam

National Agriculture Development Co.’s (NADEC) board of directors has approved a purchase offer from one of the partners in Pure Breed Poultry Co. to acquire NADEC’s 17.2 percent stake in the poultry firm for SAR 25 million.

 

NADEC is expected to realize a capital gain of SAR 22 million on this deal as its stake had a book value of SAR 3 million, it said in a statement to Tadawul on Wednesday.

 

Pure Breed specializes in the production and breeding of poultry.

 

Financial impact of the deal will be reflected starting from Q2 2017, NADEC said, adding that the proceeds will go towards supporting the company’s expansions in its main activities. 

 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
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.