S. Arabia’s PIF buys 23.08% stake in MEPCO

Saudi Arabia’s Public Investment Fund (PIF) announced on Thursday that it has acquired a 23.08 per cent in Middle East Paper Company (MEPCO), to expand its portfolio in key sectors of the Kingdom’s economy.

The deal will empower MEPCO to expand its production, enhance operational efficiency, and contribute to environmental stability, through recyclable products – including paper goods – in line with the sustainability goals of both Saudi Arabia and PIF.

“PIF’s investment in MEPCO reflects the attractive opportunities for growth in promising sectors such as recycling, retail and building materials,” head of the Industrials and Mining Sector in MENA Investments at the fund, Muhammad Al-Dawood, has said.