SABIC completed the acquisition of a 28% stake in Mowreq Specialized Agriculture.

Synopsis

SABIC, manufacturer of chemicals and steel, completed the acquisition of a 28% stake in Mowreq Specialized Agriculture, offering locally-grown, safe, clean, and nutritious food using aquaponic and hydroponic farming techniques. Financial terms were not disclosed.

Principals

target

Mowreq Special Agriculture Company

bidder

Saudi Basic Industries Corp (sabic)

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Market Context