United Industries Co. (UIC) sold today 9,425,000 shares of Saudia Dairy & Foodstuff Co. (SADAFCO) to Qurain Petrochemical Industries.

This sale was effected through a special transaction at SAR 92.50 each, totaling SAR 871,812,500 (nearly KWD 65.74 million), representing 29% of SADAFCO’s capital.

UIC expected to generate nearly KWD 19.43 million earnings from this deal, or 43.39 fils per share, to be recorded in Q4-13 balance sheet.