The Competition Commission of India (CCI) has approved the acquisition of certain equity share capital of LT Foods by SALIC International Investment Corporation (SIIC) under Section 31(1) of the Competition Act, 2002. SALIC International Investment Corporation is an unlisted limited liability company based in Riyadh, Kingdom of Saudi Arabia. It is fully owned and controlled by Saudi Agricultural and Livestock Investment Company (SALIC).
SALIC is an investment company with holdings in various international companies specialized in the fields of agriculture and trading of food commodities both in Saudi Arabia and internationally. SALIC’s agri-business is focused on farming and procurement as well as importing commodities into the Kingdom of Saudi Arabia.
LT Foods is a branded specialty foods company. It is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market.
