Riyadh – Mubasher: Saudi Arabia-based Qassim Agriculture Company’s board of directors approved an offer to purchase a stake in Pure Breed Poultry Co. at a value of SAR 9.375 million.

The buying offer was presented by a shareholder in Pure Breed Poultry Co which Qassim Agriculture owns 6.45% of its capital.

Pure Breed’s main activity is in poultry farms and produces animal feed, according to a statement to the Saudi Stock Exchange (Tadawul).

The transaction’s value will be allocated for Qassim Agriculture’s investments.

Qassim Agriculture’s book value in Pure Breed Poultry amounted to SAR 3 million and the deal profits stood at SAR 6.375 million.

The financial impact is expected to appear during 2018.