Turn on more accessible mode
Turn off more accessible mode
Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Latest News
04-06-23
Saudi Agricultural Investment Company, Marfrig Global Foods to Invest in BRF
(MENAFN) Saudi Agricultural and Livestock Investment Company (SALIC), owned by the Kingdom's sovereign wealth fund, and South American firm Marfrig Global Foods SA have announced their commitment to purchasing shares in a potential new offering by BRF SA, Brazil's largest poultry producer. According to a filing by BRF, SALIC has offered to subscribe to 50 percent of the total offer, equivalent to 500 million new shares. Marfrig Global Foods SA, which already owns a 33 percent stake in BRF, has pledged to acquire the remaining 250 million shares.
The proposed transaction dictates that the offer must be priced at a maximum of 9 reais (USD1.8) per share, representing a 23.8 percent premium over BRF's closing price of 7.27 reais on Tuesday. BRF has disclosed that its board of directors has already approved the engagement of a financial adviser to assess the move. The news of the potential offering has had a positive impact on BRF's shares, which surged by up to 15.7 percent, making it the top gainer on Brazil's benchmark stock index, Bovespa. Additionally, Marfrig's stock rose by approximately 5 percent.
For the Kingdom of Saudi Arabia, investing in BRF aligns with its efforts to strengthen food security and play a significant role in the global agricultural and livestock supply. Given Saudi Arabia's substantial demand for Brazilian meat products, such investments hold strategic significance. Furthermore, BRF and SALIC, owned by the Public Investment Fund (PIF), previously signed a memorandum of understanding to establish a joint venture focused on chicken production in Saudi Arabia, further enhancing their collaboration in the poultry sector.
MENAFN04062023000045014228ID1106383031
View the Financial News Archive
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us