Mukka Proteins has completed the acquisition of 68% of the capital of United Gulf Fishery Products LLC (the Investee Company) for a total consideration of OMR 34,000 equivalent to Rs 79.56 lakh. Pursuant to acquisition of shares of the Investee Company, the Investee Company has become a Subsidiary of the Company. The investment was made as a part of company’s strategic investment plans to expand the company’s business in the Middle East by leveraging the acquired entity’s local presence and expertise.
Mukka Proteins is one of the key players of the fish protein industry. The company manufactures fish oil which is used in the production of soap, leather tanneries, and the paint industry.
