The top international food and agrotech group, MHP SE (LSE: MHPC), and Tanmiah Food Company (also known as "Tanmiah" or the "Company," 2281 on the Saudi Exchange) have signed a shareholder agreement, which the Company is now announcing. This partnership will see DHV and MHP SE work together to invest more than SAR 200 million in farming operations with a capacity of more than 1 million parent stock expected to produce roughly 175 million hatching eggs annually, a state-of-the-art hatchery, and a poultry feed mill. The earlier this year signed Memorandum of Understanding will serve as the foundation for this partnership. DHV will own 55% of the joint venture while MHP will hold 45% of the shares.
The formation of the joint venture is still pending receipt of all relevant regulatory permissions, including Saudi Arabia's General Authority for Competition's approval as well as those from other pertinent authorities.
