The National Agricultural Development Company (NADEC) Announces the Latest Developments Regarding the Signing of an Agreement to Purchase the Partner’s Entire Stake in Al Raie National Livestock Company (the Joint Venture), Whereby NADEC’s Ownership in the Company Will Become 100%.
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of the National Agricultural Development Company (NADEC) published on the Saudi Exchange website on 03/05/2026G regarding the signing of a Share Purchase Agreement with Anaam Saudi for Trading Company, a wholly owned subsidiary of Al Muhaidib Group, to purchase its entire stake in Al Raie National Livestock Company, whereby NADEC’s ownership in Al Raie National Livestock Company will become 100%. The National Agricultural Development Company (NADEC) announces the completion of the conditions and requirements set out in the Agricultural Development Fund’s approval for the restructuring of the ownership structure of Al Raie National Livestock Company, in connection with the completion of NADEC’s purchase of the partner’s entire stake in the Company. This includes completing the update of the Articles of Association and Commercial Registration to reflect the new ownership structure, as well as providing the required guarantees and completing the real estate mortgage procedures in accordance with the requirements of the Agricultural Development Fund. |
| Previous Announcement | The National Agricultural Development Company (NADEC) announces the signing of an agreement to purchase the partner’s entire stake in Al Raie National Livestock Company (the joint venture), whereby NADEC’s ownership in the company will become 100%. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-05-03 Corresponding to 1447-11-16 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | • Completion of the conditions and requirements set out in the Agricultural Development Fund’s approval relating to the restructuring of the ownership. • Receipt of the Agricultural Development Fund’s approval for the restructuring of the ownership of Al Raie National Livestock Company. • NADEC has mortgaged additional areas of one of its lands in Wadi Al-Dawasir and provided the required corporate guarantee in line with the new ownership structure of Al Raie National Livestock Company. • Completion of the update of the Articles of Association and Commercial Registration to reflect the new ownership structure, with NADEC holding 100% ownership. |
| Reasons For The Delay on The Date of The Event Previously Announced | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Delay consequences on the Company’s financial results | Not applicable |
| Additional Information | None |
Comments