SALIC interested to acquire 30% share in TOMCL

MG News | October 05, 2022 at 03:02 PM GMT+05:00

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October 5, 2022 (MLN): The Saudi Agricultural and Livestock Investment Limited (SALIC) has shown interest in acquiring up to 30% shareholding of the Organic Meat Company Limited (TOMCL), the company’s filings on the stock exchange showed on Wednesday.

SALIC, a Saudi Joint Stock Company owned by the Public Investment Fund has appointed PriceWater House Coopers (PWC) to conduct due diligence of the company.

Further company added, “the proposed investment is currently in a discussion phase and no binding arrangement of any kind have been agreed with SALIC. The proposed investment will be subject to inter alia an agreement on the commercial terms and condition and obtaining all applicable internal and external approvals”.

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