Al Safi Danone: Saudi Arabia's Nadec Acquires Al Safi Danone

Saudi Arabia-based Al Safi Holding, a unit of Al Faisaliah Group, has sold its shares in Al Safi Danone Company (ASD), a producer of dairy and juice products, to National Agricultural Development Co (Nadec).Baker McKenzie, a leading global law firm, has acted for Al Safi Holding in this deal, said a statement.The business combination of Nadec and ASD, a joint venture between Al Safi Holding and French food company Danone, was announced on March 25, it said.© 2018 Al Bawaba (www.albawaba.com)read more