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- Gulf Bank continues to attract young Kuwaiti talent and professionals
- Aayan Leasing and Investment acquires a strategic stake in DAWI app
- Government Measures Bring Down Inflation in Saudi Arabia to 2.2% in September
- IMG urges countries to keep trade as engine of growth
- KIPCO recognized by Forbes Middle East for continued sustainability excellence
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09/10/2017 06:54 AST
National Agricultural Development Company (NADEC) and Al Safi Danone Company (ASD) have entered into a non-binding agreement to explore a possible merger.
"The term of the MOU [Memorandum of Understanding] is for a period of six months. The parties have agreed on an exclusivity period during which they will conduct financial, commercial and legal due diligence," NADEC said in a disclosure to the Saudi stock exchange.
Under the memorandum of understanding, NADEC is proposing to buy all shares of ASD and in exchange offer new NADEC shares to ASD's current shareholders, which will be implemented through a capital increase.
"Subject to confirmation during the due diligence phase, at completion of the Proposed Transaction, the current ASD shareholders will, in aggregate, own 38.75 percent of NADECs pro forma issued share capital," NADEC told the Saudi bourse.
ASD, engaged in the production of fresh dairy products and juices, is a joint venture between Saudi Arabia's Al-Faisaliah Group and French food firm Danone Group.
"The Proposed Transaction will be subject to a number of conditions including, without limitation, entry into definitive agreements, NADECs EGM approval and ASDs shareholder approvals and obtaining the necessary approvals from the relevant government authorities," NADEC said.
"The entry into these discussions does not guarantee that the Proposed Transaction will be completed."
Arab News
30/03/2018
Saudi Arabia-based Al Safi Holding, a unit of Al Faisaliah Group, has sold its shares in Al Safi Danone Company (ASD), a producer of dairy and juice products, to National Agricultural Development Co
Trade Arabia
26/03/2018
Nadec, the Saudi food and beverage company in which the kingdom's sovereign wealth fund has a 20 per cent stake, agreed to buy rival Al Safi Danone in a deal that will be funded through a 536 million
The National
08/10/2017
National Agricultural Development Company (NADEC) is pleased to announce that it has entered into a non-binding memorandum of understanding (the MOU) on 17/1/1439H corresponding to 7/10/2017G with Al
Tadawul
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| FADECO | 15.49 | 0.00 (0.00 |
| ALMARAI | 49.86 | 0.24 (0.48 |
| SADAFCO | 287.80 | -9.40 (-3.17 |
| SAVOLAGROUP | 25.60 | -0.16 (-0.63 |
| NOFOTH | 146.00 | 6.00 (4.28 |
17/10/2025
As part of its ongoing support for youth and its continuous efforts to attract the best national talents and professionals, Gulf Bank concluded its participation and sponsorship of the "My Job" caree
Kuwait Times
17/10/2025
Aayan Leasing and Investment Company has announced that one of its subsidiaries has acquired a strategic stake in Fresh Minds, the owner of the "Dawi" application - a leading digital healthcare platf
Kuwait Times
17/10/2025
KIPCO - Kuwait Projects Company (Holding) - was recognized by Forbes Middle East for the third consecutive year for its continued commitment to advancing sustainability and governance practices acros
Kuwait Times
17/10/2025
The head of Saudi Aramco, Amin Nasser, has warned of a global oil shortage on the horizon, after a decade in which the energy industry turned its back on the search for new oil.
Nasser calle
Asharq Al Awsat
17/10/2025
Alec Holdings, a diversified engineering and construction group in UAE, has announced its listing on Dubai Financial Market, thus marking UAE's largest-ever initial public offering in the constructio
Trade Arabia
Financial Information Co.
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