Mayar’s Jedaya ups stake in Food Developing Trading to 100%

29/08/2024 Argaam

Mayar’s Jedaya ups stake in Food Developing Trading to 100%

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Mayar Holding Co.’s subsidiary, Jedaya Agriculture Co., increased its stake in Food Developing Trading Co., a closed joint-stock company, from 80.9% to 100%, according to Tadawul website.

 

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Further, Jedaya restructured the company’s ownership and transformed it into a limited liability company.

 

Shareholder Al-Fakher Food Co. exited from Food Developing Trading in exchange for owning a stake of 0.71625% in Jadaya. Thus, Mayar's stake in Jedaya reached 98.58%.

 

The financial impact will be positive in the long term and will likely reflect on the company's results as of Q4 2024. In October 2023, Jedaya raised its stake in Food Developing Trading to 80.9% from 56.50% through increasing the company’s capital from its internal resources, Argaam earlier reported.

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