Riyadh - Sharikat Mubasher: The Saudi Agricultural and Livestock Investment Company (SALIC) agreed to sell its full stake in Saudi Fisheries Company (SFC), representing 40% of total shares, to businessman Abdulaziz Al-Humaid for SAR 122.3 million (around $32.6 million).

According to the company’s statement, the deal involves selling 15.9 million shares after obtaining the regulatory approvals.

SFC was established to invest in living aquatic resources and related industries. It is one of the first specialized companies in its field with wide experience in advanced infrastructure in the marine fishing, aquaculture, logistics, food, and seafood industries, commercial and wholesale sectors.

SALIC, wholly owned by the Public Investment Fund (PIF), aims to be a leading global food security company focused on sustainable agribusiness investment.