SADAFCO signed non-binding agreement with Mlekoma sp. Z.o.o

10/10/2017 22:23 AST

SADAFCO has signed on 10 October 2017, a Non-Binding agreement with Mlekoma sp. Z.o.o. with its subsidiaries Foodexo sp. Z.o.o, & Mlekoma Dairy Z.o.o. in Poland to continue the due diligence process of acquiring a controlling stake and upon satisfactory completion of this process, sign a Binding Offer with Mlekoma Sp. Z.o.o and conclude the legal and financial formalities of acquisition.

The estimated Enterprise Value of acquisition is approximately SAR 120 million and will be finalized upon completion of the due diligence process.

SADAFCO considers this transaction as a strategic opportunity to invest in vertical (backward) integration, being a source of one of its key raw materials i.e. milk powder.

In accordance with regulations, should this process conclude, the company will make the necessary public announcements on further details of the transaction.


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