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PIF subsidiary takes stake in Ukraine poultry producer

By Gavin Gibbon
Salic MHP chicken processing Alamy
The Ukraine-based poultry producer MHP has operations in the Balkans, the Netherlands, the UK and Saudi Arabia

A subsidiary of Saudi Arabia’s Public Investment Fund has taken a stake in the Ukraine-based poultry producer MHP in a deal worth more than $13.5 million.

MHP, more fully Myronivsky Hliboproduct, which trades on the London Stock Exchange, is an international food and agrotech company, founded in Kyiv in 1998.

It has a strong presence in Ukraine and the Balkans and subsidiary operations in the Netherlands, the UK and Saudi Arabia.

Saudi Agricultural and Livestock Investment Company (Salic), a wholly-owned subsidiary of PIF, now owns 12.6 percent of MHP.

The move strengthens Salic’s presence in Ukraine. The company already owns the agricultural holding Continental Farmers Group, which grows wheat, corn, sunflower, barley, rapeseed, buckwheat, potatoes, soybeans and other agriculture crops.

In August Salic agreed to sell its 40 percent stake in the Saudi Fisheries Company to the Saudi businessman Abdulaziz bin Abdullah Al-Humaid for SR122.4 million ($32.62 million).

Salic was established in 2009 and began investing abroad in 2012 in companies in the agriculture, grain trading, rice and meat sectors in countries such as Canada, India, Australia, Brazil, Singapore and Ukraine.

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