DUBAI: Saudi Arabia’s sovereign wealth fund became the third-biggest shareholder in Almarai Co as it boosts investments at home and abroad.
The Public Investment Fund (PIF) owns 163.2 million shares, or 16.32%, of Riyadh-based dairy farm operator and food processor, according to a regulatory filing that didn’t disclose the identity of the seller. The stake is valued at 9 billion riyals (US$2.4bil) based on Oct 12 closing prices, according to data compiled by Bloomberg.
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