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.
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