The Saudi Agricultural and Livestock Investment Company (SALIC) a wholly-owned subsidiary of the Public Investment Fund “PIF” has said today it has increased its stake in National Agricultural Development company “NADEC” from 20% to 32.46%.

In March of last year, The Public Investment Fund “PIF” has announced that it has transferred its shares in Almarai (16.32% stake), (NADEC; 20.00% stake); and Saudi Fisheries Co. (39.99% stake) to SALIC with the aim to enable SALIC’s mission as PIF’s investment arm in the food and agriculture sector.

Noting that Nadec company was established in 1981 and it operates in the fields of agriculture, dairy, F&B and distribution and it is a publicly listed company on the Saudi stock exchange.