Saudi Arabia's Nadec To Buy Danone Unit Via Capital Raise
Saudi Arabia's National Agricultural Development Co., part owned by the sovereign wealth fund, will acquire Danone SA's venture in the country, according to reports.
Nadec, as the company is known, will fund the acquisition of privately held Al Safi Danone through a capital increase of 536 million riyals or $143 million, the reports said. Once the deal is completed, existing Nadec shareholders will own 61.25 percent of the company, and Al Safi shareholders will hold 38.75 percent. (dpa)
Other news from the department business & finance

Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.