The Markets of Abdullah Al Othaim decided to enter into an alliance with Alana International and the United Feed Manufacturing Company for the purpose of competing for the acquisition of one of the two currencies for allocation by the Public Corporation General competition.


According to Arab Net, the company said in a statement that the two companies to compete are two and fourth and fourth mills.


Othaim markets added that the decision of the Board of Directors comes to strengthen the continued integration and diversification of investments and contribute to food security.


He explained that in the event of awarded the asset to be acquired on the coalition by the National Customized Center, will announce the financial impact of the acquisition process.


She noted that a joint venture agreement to regulate the relationship between the members of the Alliance would be signed within a holding company established for this purpose by coalition members.


The acquisition deal was planned through a combination of self-financing by members of the Alliance and borrowing from local banks on behalf of the company to be established for this end


Saudi Arabia is implementing the allocation of the exact mills sector as part of the Kingdom's vision plan 2030 in promoting government assets and improving its operational efficiency, attracting domestic and international investments and raising the private sector contribution to GDP and supporting the local market in general.