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Saudi Agriculture and Livestock to buy 19.95% of Minerva

Staff writer |
Saudi Agriculture and Livestock (Salic) of Saudi Arabia signed an agreement to acquire 19.95% of the shares of Grupo Minerva, becoming a minority partner of the Brazilian meat company for $188.4 million.

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Salic was created in 2012 by the Saudi government to invest in the agriculture and livestock sectors in countries with markets open to receive foreign capital and owners of significant agricultural resources.

The company’s shareholding in the Brazilian meat company will be through Salic UK, the company’s subsidiary in the UK.

With the agreement, Salic now has 48 million stocks of the Brazilian group and has the rights to appoint three members to the Board of Directors and one member to the Supervisory Board.

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