NADEC explores 370 million riyal deal for Nada’s dairy herd

Saudi agricultural company NADEC has signed a memorandum of understanding to buy Nada’s milk-producing cattle herd for an indicative 370 million riyals, excluding VAT. The proposed arrangement is broader than simply moving livestock: NADEC would run the herd at Nada’s dairy farm and related facilities during a transition, then supply raw milk to Nada under a long-term agreement. NADEC has paid a refundable 74 million-riyal deposit, equal to 20% of the indicative purchase price, which would be credited against the deal if it closes. But this is not a completed acquisition: the memorandum is largely nonbinding, and the final price and terms still depend on due diligence, approvals, and three definitive agreements.