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Saudi Agricultural & Livestock Investment Co acquires 29.81% stake in Daawat Foods

Business Finance

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L T Foods announced that Saudi Agricultural & Livestock Investment Company has acquired a stake in Daawat Foods (subsidiary of L T Foods) through its subsidiary United Farmers Investment Company.

The transaction in DFL entails acquisition of 29.81% stake of India Agri Business Fund, sponsored by Rabobank and 0.1% stake of REAL Trust, by United Farmers Investment Company, subsidiary of SALIC for an amount of $ 17.23 million.

There shall be no impact on the shareholding of L T Foods , as the transaction has been carried out in its subsidiary company.

Further, there is no change in stake owned by L T Foods in its majority owned subsidiary DFL. LT Foods shall continue to hold the balance stake of 70.09%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 11:07 IST