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Almarai: sells all its UFHC-shares to SALIC

Riyadh / SA. (ac) Almarai Company is pleased to announce that on 31st December 2018, the Company has completed the sale of all its Shares in United Farmers Holding Company (UFHC) which represent 33.0 percent of the paid up capital, to Saudi Agricultural and Livestock Investment Company (SALIC), one of the founding partners of UFHC, for an aggregate amount of 28 million USD equivalent to SAR 105 million, after obtaining all the necessary regulatory and legal approvals. The financial impact of this transaction will be effective in the 4th Quarter of 2018 results, which is not material to the Company’s financial statements. The proceeds from this transaction will be used to support the Company’s business and investments.