September 17, 2020
Saudi investment company SALIC increases stake in Brazilian meat firm Minerva Foods
The Saudi Agricultural and Livestock Investment Co (SALIC), an investment company from Saudi Arabia has increased its stake from 25.5% to 33.83% in Brazilian meat producer Minerva Foods, Reuters reported.
SALIC is an arm of Saudi Arabia's sovereign wealth fund, established in 2012 to secure food supplies for the country through investments and mass production.
550,000 tonnes of red meat are consumed by Saudi Arabians annually, with 70% of red meat imported.