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03-Apr-2018

Almarai acquires additional 14% stake in Pure Breed for SAR20.3mn

Almarai [2280.SE] announced that it has acquired for a total of SAR20.3mn an additional 14% share of Pure Breed, which focuses on poultry grand-parent farming. Almarai now controls 55.9% of Pure Breed, which will be consolidated within its financial statements as of 2Q18. The transaction was fully financed internally. 

Almarai: SAR54.19 as of 2 Apr. 2018, Rating: Neutral, TP: SAR52.00/share, MCap: USD14,451mn, ALMARAI AB/2280.SE
 

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