Kohinoor Foods (KFL), largest basmati rice and ready-to- eat foodstuff producers, is planning to sell 20% stake at Rs 160 a share in its Dubai joint venture, Rich Rice Raisers Factory LLC (RRR), to Al Dahra, an Abu Dhabi-based agri-specific company.
RRR was established as a joint venture company in Dubai, by Sunny General Trading (SGT) (which holds 75% stake) and KFL (which has 25% stake). Moreover, post the acquisition, Al Dahra will have options to buy the remaining 5% stake in RRR from KFL.
Al Dahra specialises in agriculture and animal feed production. With global operations, farms and production facilities in the Americas, Europe, Asia and Africa, it is considered a premier supplier of high quality forage, fresh produce, dairy products and commodities to local and regional markets.
