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BRF Buys Stake in Saudi Arabian Poultry Company for USD 84 Million
BRF reported on 31 October that it formalized the purchase of 26% of shares of the Saudi Addoha Poultry Company, one of the largest chicken producers in Saudi Arabia, for USD 84.3 million.
The announcement is on the back of BRF's partnership with Saudi Arabia's Public Investment Fund (PIF) set to invest USD 500 million in poultry production and food processing in the region.
According to media outlet Infomoney, Bradesco’s BBI analysts estimate that the Addoha factory purchased, which operates entirely in the halal...