Minerva deal with SALIC steps closer to Australian processing investment
Beef Central (Australia)
February 19, 2021
Brazilian red meat processor Minerva has signed a non-binding memorandum of understanding with Saudi investor, the Saudi Agricultural and Livestock Investment Company (SALIC) aimed at the possible acquisition of processing assets in Australia and the formation of a joint venture focussed on breeding, farming, processing and exporting sheep and cattle.
Beef Central broke the news about Minerva抯 intentions in Australia in this article last September.
Last week Minerva Foods approved the signing of a contract governing the sale, supply and exports of goods produced and sold by the company to SALIC, in the capacity of supplier, and Salic (UK) in the capacity of buyer.
Minerva said that with SALIC抯 support, the supply contract should strengthen Minerva Foods?exposure and operations in the Middle East and Asia, which comprise around 65pc of the world抯 population and 40pc of global GDP.
According to the US Department of Agriculture, these markets accounted for more than 60pc...
About SALIC ...