Bahrain: SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the signing of a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID's strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors.
According to Emirates News Agency, the primary objective of signing this Letter of Intent is to support AAAID's goals within the Arab and GCC region, with a particular emphasis on Bahrain and Saudi Arabia. This will be achieved by collaborating on projects for AAAID, facilitating investment through equity and/or debt financing opportunities, and engaging in business development activities.
Najla Al Shirawi, Group CEO of SICO, expressed enthusiasm about the collaboration, stating that leveraging their expertise in investment sourcing, acquisition advisory, capital-raising, and joint ventures aims to drive value and promote growth within the agriculture sector. She emphasized their commitment to making a significant impact on the agricultural industry and ensuring a secure future.
Dr. Obaid Al Zaabi, Chairman of AAAID, highlighted that the collaboration aligns with their strategic vision to enhance capabilities and equip projects with necessary tools to achieve ambitious goals. By utilizing SICO's extensive industry expertise, they aim to identify and execute high-impact projects focused on innovative solutions and strategic investments addressing regional challenges.
Through this collaboration, SICO will provide acquisition advisory services, including due diligence, valuations, and transaction structuring and execution support. Additionally, SICO will assist in capital-raising activities for AAAID's invested companies and explore joint venture opportunities.
The partnership will focus on promoting sustainable agricultural practices and enhancing food security resilience across the region.