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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi Arabia’s SALIC, Brazil’s Minerva Buy Australian Lamb Company for about $260 Mln

SALIC Minerva Australia ALC Saudi Public Investment Fund
SALIC and Minerva Foods announce the acquisition of the Australian Lamp Company. (SALIC)

The Saudi Agricultural and Livestock Investment Company (SALIC), owned by the Saudi Public Investment Fund, and Brazilian meatpacker Minerva has acquired the Australian Lamb Company (ALC) for 970 million riyals ($258 million), SALIC said in a statement on Friday.

The acquisition was done through Minerva Foods Australia, a joint venture established last year between SALIC and Minerva Foods, SALIC said.

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