Owners of Saudi Arabia’s National Poultry Consider Selling for 2 Billion Riyals
The deal under discussion comes amid the sector’s growing attractiveness and the kingdom’s drive to achieve food self-sufficiency.
Source: Bloomberg

The owners of Saudi Arabia’s National Poultry, the Middle East’s largest poultry producer, are considering selling it, according to people familiar with the matter, amid the sector’s growing attractiveness and the kingdom’s drive to achieve food self-sufficiency.
National has appointed Saudi Fransi Capital as an advisor for the potential deal, according to the people, who asked not to be identified because the matter is not public. The deal could fetch 2 billion riyals ($532 million), they said, according to one of the people.
They added that talks are ongoing but could be delayed or canceled. Representatives for National and Saudi Fransi Capital did not respond to requests for comment.
Saudi Arabia’s food sector activity
The sales plans come as Saudi Arabia’s food sector receives a boost from economic reform efforts led by Crown Prince Mohammed bin Salman. Efforts to secure food supplies have taken on greater importance as the Covid-19 pandemic and the war in Ukraine have disrupted supply chains and pushed prices to record levels.
Source: https://asharqbusiness.com/