The Saudi Agricultural and Livestock Investment Company completed the acquisition of a 29% stake in LT Foods for $21.6m.

The Saudi Agricultural and Livestock Investment Company, an investment company, completed the acquisition of a 29% stake in LT Foods, a food producer, for $21.6m. SALIC explained that expanding the scope of international investments is one of its strategic goals to achieve national food security targets, and this transaction aims to build a solid long-term strategic partnership with LT Foods following SALIC’s successful acquisition of 30% stake in Daawat, one of LT Foods major rice processing subsidiary in India.