The National Agricultural Development Company (NADEC) is pleased to announce it has entered into a definitive agreement to acquire Al Safi Danone Company (ASD) in a transformative transaction that will reinforce its position as a leading regional dairy and beverage player. The sale and share purchase agreement entered into this morning relates to the acquisition of 100% of the shares of ASD by NADEC from Al Safi Holding Company (Al Safi Holding) and Danone Dairy Investments Indonesia Pte Ltd (DDII) (collectively, the Sellers) (the Agreement dated 8/7/1439H corresponding to 25 March 2018G).

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