Logo ofNational Agricultural Development Co. (NADEC)
National Agricultural Development Co. (NADEC) completed the conditions and requirements set out in the Agricultural Development Fund’s (ADF) approval to restructure the ownership of Al Raie National Livestock Co. 
The move paves the way for the acquisition of the partner’s entire stake in the company.
The company completed the updates to its articles of association and commercial registration to reflect the new ownership structure, bringing NADEC’s stake in Al Raie Livestock to 100%, according to a statement to Tadawul today, Sept. 17.
It added that it had provided additional collateral by mortgaging portions of one of its plots of land in Wadi Al-Dawasir, as well as the required corporate guarantee, in line with the company’s new ownership structure.
According to data available with Argaam, NADEC signed an agreement in May to acquire the entire stake held by Anaam Saudi for Trading Co. in Al Raie Livestock, representing 49% of the company’s share capital, for SAR 23.69 million.
NADEC’s ownership was set to reach 100% upon completion of the transaction.
Logo ofNational Agricultural Development Co. (NADEC)
National Agricultural Development Co. (NADEC) completed the conditions and requirements set out in the Agricultural Development Fund’s (ADF) approval to restructure the ownership of Al Raie National Livestock Co.
The move paves the way for the acquisition of the partner’s entire stake in the company.
The company completed the updates to its articles of association and commercial registration to reflect the new ownership structure, bringing NADEC’s stake in Al Raie Livestock to 100%, according to a statement to Tadawul today, Sept. 17.
It added that it had provided additional collateral by mortgaging portions of one of its plots of land in Wadi Al-Dawasir, as well as the required corporate guarantee, in line with the company’s new ownership structure.
According to data available with Argaam, NADEC signed an agreement in May to acquire the entire stake held by Anaam Saudi for Trading Co. in Al Raie Livestock, representing 49% of the company’s share capital, for SAR 23.69 million.
NADEC’s ownership was set to reach 100% upon completion of the transaction.
