Bloomberg News

Almarai Rises as It May Increase Stake in PepsiCo Joint Venture

February 28, 2012

Almarai Co., Saudi Arabia’s largest food producer by market value, rose the most in more than a month after it said it’s looking into “slightly” increasing its stake in a joint venture with PepsiCo Inc.

The shares advanced 1.7 percent, the most since Jan. 18, to 103.75 riyals at 12:17 p.m. in Riyadh.

The two companies are reviewing their strategic partnership in International Dairy & Juice Ltd. to strengthen the performance of IDJ, it said. Almarai, which owns 48 percent of IDJ, may make an announcement on the issue in March.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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