Saudi Industrial Investment Group has announced that it has acquired a strategic 24% stake in Unibio International, a leader in bioprotein production technology sector for $70 million.

 

Headquartered in Roskilde, Denmark, Unibio is a specialist in fermentation technology, high mass transfer from gas to liquid, high yields and low KwH ( kilowatt hour) use. 

 

The investment was made in two phases, wherein 9.9% of the shares was acquired initially, said Saudi Industrial Investment Group in its filing to the kingdom's bourse Tadawul.

 

This was followed by the second phase wherein the remaining 14.1% stake was bought after the Danish Government’s go-ahead for the foreign direct investment, it stated. 

 

The funding for both the phases of the investment came from internal resources, it added.