{"id":76720,"date":"2023-03-29T02:00:30","date_gmt":"2023-03-29T02:00:30","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/03\/29\/saudi-arabias-siig-acquires-24-stake-in-danish-sustainable-protein-company-unibio-for-usd-70-mn\/"},"modified":"2023-03-29T02:00:30","modified_gmt":"2023-03-29T02:00:30","slug":"saudi-arabias-siig-acquires-24-stake-in-danish-sustainable-protein-company-unibio-for-usd-70-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/03\/29\/saudi-arabias-siig-acquires-24-stake-in-danish-sustainable-protein-company-unibio-for-usd-70-mn\/","title":{"rendered":"Saudi Arabia\u2019s SIIG acquires 24% stake in Danish sustainable protein company Unibio for USD 70 mn"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>KSA\u2019s SIIG taps into sustainable protein:<\/strong> Saudi Arabia\u2019s privately owned petrochemical company Saudi Industrial Investment Group (<a href=\"http:\/\/www.siig.com.sa\/\">SIIG<\/a>) has signed an agreement to acquire a 24% stake in Denmark\u2019s sustainable protein company <a href=\"https:\/\/www.unibio.dk\/\">Unibio International<\/a>, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/jZDLDoJADEW_xQVbWlEQ3WFUjI8IEiPOxgw6jiQwQ3CU8PeOutL46q7tubc3BQIxEEEvKacqlYJmut8QZ2t7DlpjFxf-yBpiOOr2w8HQb-K0DetnAKPA1kAwb81wiT46QP7R44fy8LeefEX8zivwJuId-JJhAoRnMnn8wxNJy-VASnZgJSvNc6nHR6WKU89AA6uqMrmUPGPmTuYGvpMc5UlB_EzeuJvL3UTRPa3OmVYTvSqoqKM6T6Q-ZFk2QsQEFPkqxjTI166yk7bXuALPuHni\/dz\/d5\/L0lDU0lKQ2dwUkNncFJDaUNsRUtJS1VRIS9ZQVVFQUFBSUlNSUVBSUNLR0tHQ0tPQk9CQ09KSkZKRk5JRUVKRERMRExOREFBISEvNEpDaWpzWXBNaFRqVUU1Q2ttb3ByZHRMWXpVczF1MmxzNXFDUUEhIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9BTk5PVU5DRU1FTlRfTlVNQkVSLzcyNjU3L2NvbXBhbnlTeW1ib2wvMjI1MC9odHRwOiUwJTB0YWRhd3VsJTAvYW5uQ2F0LzEvYW5JZA!!\/\">disclosure to Tadawul<\/a>. The acquisition will be made through an investment of c.USD 70 mn in the Danish company, with a 9.9% stake acquired in the first phase. The remaining stake would be acquired by SIIG in which the Saudi government owns a 13.1% stake after obtaining necessary approvals for FDI from the Danish government.<\/p>\n<p><strong>Where\u2019s the money going? <\/strong>Unibio will use the proceeds to increase global production capacity, boost operating capabilities, and ramp up innovation, according to a <a href=\"https:\/\/www.unibio.dk\/press-release-saudi-industrial-investment-group-siig-agrees-to-invest-us70-million-in-unibio\/\">statement<\/a> by Unibio on the acquisition.<\/p>\n<p><strong>Sustainable protein what?<\/strong> Sustainable protein focuses on developing new sources of protein through new food-technology alternatives in a bid to address the food security crisis and ensure sustainable feed without use of arable land and low water usage, according to Unibio\u2019s <a href=\"https:\/\/www.unibio.dk\/company\/about\/\">website<\/a>. The Uniprotein feedstock acts as a replacement protein source for animal and fish feed mixes, and production of the protein for direct human consumption is still underway, according to the statement.<\/p>\n<p><strong>Advisors: <\/strong>Ernst & Young acted as advisor for SIIG, while Bank of America advised Unibio International on the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KSA\u2019s SIIG taps into sustainable protein: Saudi Arabia\u2019s privately owned petrochemical company Saudi Industrial Investment Group (SIIG) has signed an agreement to acquire a 24% stake in Denmark\u2019s sustainable protein company Unibio International, according to a disclosure to Tadawul. The acquisition will be made through an investment of c.USD 70 mn in the Danish company, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":76721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[562,11,79,159,1534,1536,1535],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-denmark","tag-enterpriseclimate","tag-ma-watch","tag-saudi-arabia","tag-siig","tag-sustainable-protein","tag-unibio","wpautop","entry"],"acf":{"mongo_id":"eed6ea1e-278a-4eb4-8acd-ca81c245237d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/agreement-2-1600px.jpg","photo_position":"above","related_issue":[76715],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi Arabia\u2019s SIIG acquires 24% stake in Danish sustainable protein company Unibio for USD 70 mn - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/03\/29\/saudi-arabias-siig-acquires-24-stake-in-danish-sustainable-protein-company-unibio-for-usd-70-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia\u2019s SIIG acquires 24% stake in Danish sustainable protein company Unibio for USD 70 mn\" \/>\n<meta property=\"og:description\" content=\"KSA\u2019s SIIG taps into sustainable protein: Saudi Arabia\u2019s privately owned petrochemical company Saudi Industrial Investment Group (SIIG) has signed an agreement to acquire a 24% stake in Denmark\u2019s sustainable protein company Unibio International, according to a disclosure to Tadawul. 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