With a deal worth 56 million dollars.. Padico sells its entire stake in the Palestine Industrial Investment Company

SadaNews - The Palestine Development and Investment Company (Padico) announced the sale of its entire stake in the Palestine Industrial Investment Company, totaling 56%, to the investor Nidal Al-Sakhtiyan. The transaction was conducted on the Palestine Exchange for a value of 56 million dollars.

Padico's CEO, Abdullah Sabat, stated: "This deal embodies the company's strategy based on development and investment in Palestine. Padico established the Palestine Industrial Investment Company 30 years ago to lead this important sector for the national economy, achieving great successes especially in the food, poultry, and feed industries, becoming today a pioneering company with a strong financial position and a promising future."

He confirmed that this step will strengthen Padico's financial position and provide cash liquidity that enables the company to enhance its investment portfolio and focus in the future on investing in the Gaza Strip in particular when conditions allow.

Sabat expressed his confidence in the capabilities of the management of the Palestine Industrial Investment Company to continue advancing in industries, benefiting from the extensive experience of the main investor, Mr. Nidal Al-Sakhtiyan, in this field.