Almunajem Foods to Buy Minority Stake in Al-Jouf Agricultural for SAR236 Million

02:33 AM EDT, 07/27/2026 (MT Newswires) -- Almunajem Foods Co. (SASE:4162) agreed to acquire a minority stake in Al-Jouf Agricultural Development Co. (SASE:6070) by subscribing for 4.5 million Al-Jouf shares for 236.3 million Saudi riyals. The agricultural development company Al-Jouf said Monday it will raise its capital to 345 million riyals from 300 million riyals, with the suspension of pre-emptive rights, to facilitate the transaction. The proposed deal remains subject to approval by Al-Jouf's shareholders and regulatory clearances.