The signing ceremony
Saudi Jordanian Investment Co. (SJIC), a subsidiary of the Saudi Public Investment Fund of Saudi Arabia (PIF), signed an agreement with Al Youm Bakery Co. to indirectly invest in the Jordan-based bakery.
In a statement obtained by Argaam, SJIF said the deal includes the issuance of new shares by Al Youm Bakery and aims to enhance its capacity to implement a long-term growth strategy. This includes expanding its business by introducing new product categories in Jordan and neighboring markets.
The PIF-owned firm added that the transaction is subject to conditions outlined in the agreements, including obtaining necessary regulatory approvals.
The investment aligns with SJIF’s strategy to explore promising opportunities in Jordan and establish long-term economic partnerships that support economic growth and generate sustainable returns, it said.
Muteb Al Shathri, acting CEO of SJIC said that the cooperation with Al Youm Bakery is serves the growth and expansion of the company’s business, as this deal comes within the framework of SJIC strategy to build extensive partnerships with the private sector and focus on promising priority sectors in the Jordanian market, including the food sector and investment in opportunities and projects that would achieve sustainable returns.
Al Youm Bakery is one of the largest companies specialized in fresh bakery products, and their manufacturing requirements in the Jordanian market. The company owns one of the largest infrastructure in this field in Jordan, including a manufacturing unit with a treatment capacity of 300 tons of flour per day, seven production lines, and packaging and storage units, in addition to wide and advanced distribution networks, which allows to cover several areas through many points of sale.
According to data available on Argaam, SJIC was established as a limited public joint stock company in the Jordanian capital, Amman, in 2017, by Saudi PIF, in partnership with 16 Jordanian commercial and Islamic banks, with a $3 billion capital.
The company seeks to invest in sustainable and economic strategic projects in the various vital and promising sectors in Jordan. This is in addition to SJIC endeavor to make a positive economic and social impact to advance the wheel of economic development in Jordan in line with the strategic investment goals and directions of PIF.
The signing ceremony
Saudi Jordanian Investment Co. (SJIC), a subsidiary of the Saudi Public Investment Fund of Saudi Arabia (PIF), signed an agreement with Al Youm Bakery Co. to indirectly invest in the Jordan-based bakery.
In a statement obtained by Argaam, SJIF said the deal includes the issuance of new shares by Al Youm Bakery and aims to enhance its capacity to implement a long-term growth strategy. This includes expanding its business by introducing new product categories in Jordan and neighboring markets.
The PIF-owned firm added that the transaction is subject to conditions outlined in the agreements, including obtaining necessary regulatory approvals.
The investment aligns with SJIF’s strategy to explore promising opportunities in Jordan and establish long-term economic partnerships that support economic growth and generate sustainable returns, it said.
Muteb Al Shathri, acting CEO of SJIC said that the cooperation with Al Youm Bakery is serves the growth and expansion of the company’s business, as this deal comes within the framework of SJIC strategy to build extensive partnerships with the private sector and focus on promising priority sectors in the Jordanian market, including the food sector and investment in opportunities and projects that would achieve sustainable returns.
Al Youm Bakery is one of the largest companies specialized in fresh bakery products, and their manufacturing requirements in the Jordanian market. The company owns one of the largest infrastructure in this field in Jordan, including a manufacturing unit with a treatment capacity of 300 tons of flour per day, seven production lines, and packaging and storage units, in addition to wide and advanced distribution networks, which allows to cover several areas through many points of sale.
According to data available on Argaam, SJIC was established as a limited public joint stock company in the Jordanian capital, Amman, in 2017, by Saudi PIF, in partnership with 16 Jordanian commercial and Islamic banks, with a $3 billion capital.
The company seeks to invest in sustainable and economic strategic projects in the various vital and promising sectors in Jordan. This is in addition to SJIC endeavor to make a positive economic and social impact to advance the wheel of economic development in Jordan in line with the strategic investment goals and directions of PIF.
