Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) on Tuesday signed a non-binding agreement with with Mlekoma sp. Z.o.o., and with its subsidiaries Foodexo sp. Z.o.o and Mlekoma Dairy Z.o.o. to continue due diligence of acquiring a controlling stake.

The agreement also aims to complete the legal and financial procedures of the acquisition deal.

The estimated value of acquiring the stake is SAR 120 million and will be completed after the due diligence will be done.

Mlekoma sp. Z.o.o's units are Foodexo sp. Z.o.o and Mlekoma Dairy Z.o.o are based in Poland.

Sadafco’s stock levelled up 0.17%, closing at SAR 121.20 on Tuesday.