JBS Buys 80% Stake in Oman Meat Plants in Deal With Wealth Fund - Bloomberg
JBS NV, the world’s largest meat producer, agreed to buy a controlling stake in an Oman food business through a deal with wealth fund Oman Investment Authority.
The Sao Paulo-based meatpacker is investing $150 million to obtain an 80% stake of the business, which includes a poultry plant and a unit that processes beef and lamb. The Oman wealth fund will retain the remaining 20% stake.
The deal will allow JBS to produce fresh meat locally, sourcing breeder chickens from local suppliers in Oman. The lamb and beef meat unit will receive animals from other countries in Africa and the Middle East.
“We felt it was important to be in the initial phase of the supply chain in the region, which has a large and growing market, as we want to transform this location into a hub for accessing other markets”, Chief Executive Officer Gilberto Tomazoni told journalists on Sunday. “We will continue investing because we have built a platform here.”
The deal marks JBS’ newest effort in the halal market involving food that adheres to Islamic law. JBS already processes chicken in Saudi Arabia and recently announced the expansion of its unit in Jeddah.
Sunday, 8 February 2026
Most Gulf markets gain on upbeat US-Iran talks; Egypt at record high | Reuters
Most Gulf markets gain on upbeat US-Iran talks; Egypt at record high | Reuters
Most Gulf stock markets closed higher on Sunday following a positive early turn in the talks between the United States and Iran over Tehran's nuclear programme, while Egypt's benchmark index finished at a fresh record high.
Iran's top diplomat said on Friday that the Oman-mediated talks were off to a "good start" and set to continue. Those remarks could help allay concern that a failure to reach a deal might nudge the Middle East closer to war.
Saudi Arabia's benchmark index (.TASI), opens new tab finished 0.3% higher, led by a 0.5% rise in Al Rajhi Bank (1120.SE), opens new tab.
Elsewhere, Saudi Aramco Base Oil Co (2223.SE), opens new tab advanced 3.5%, following an increase in second-half dividend.
"The market appears poised to continue its upward trajectory, supported by solid non-oil economic fundamentals and growth projections for the year, while investors await further fourth-quarter earnings releases from major heavyweights like Aramco," he said.
The Qatari index (.QSI), opens new tab was up 0.5%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab rising 1.1%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose for the fourth consecutive session to finish 0.6% higher, closing at its highest ever.
Egypt has signed a $3.5 billion agreement to allocate 410 megahertz of new spectrum to its four mobile operators, the cabinet said in a statement on Saturday, describing it as the largest spectrum deal in the country's telecommunications history.
According to Azar, the rally is underpinned by improving macroeconomic conditions, which have bolstered overall market sentiment.
Most Gulf stock markets closed higher on Sunday following a positive early turn in the talks between the United States and Iran over Tehran's nuclear programme, while Egypt's benchmark index finished at a fresh record high.
Iran's top diplomat said on Friday that the Oman-mediated talks were off to a "good start" and set to continue. Those remarks could help allay concern that a failure to reach a deal might nudge the Middle East closer to war.
Saudi Arabia's benchmark index (.TASI), opens new tab finished 0.3% higher, led by a 0.5% rise in Al Rajhi Bank (1120.SE), opens new tab.
Elsewhere, Saudi Aramco Base Oil Co (2223.SE), opens new tab advanced 3.5%, following an increase in second-half dividend.
Milad Azar, an analyst at XTB MENA, said market sentiment was strengthened by the diplomatic meeting, which eased previous geopolitical pressures on regional indices.
"The market appears poised to continue its upward trajectory, supported by solid non-oil economic fundamentals and growth projections for the year, while investors await further fourth-quarter earnings releases from major heavyweights like Aramco," he said.
The Qatari index (.QSI), opens new tab was up 0.5%, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab rising 1.1%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose for the fourth consecutive session to finish 0.6% higher, closing at its highest ever.
Egypt has signed a $3.5 billion agreement to allocate 410 megahertz of new spectrum to its four mobile operators, the cabinet said in a statement on Saturday, describing it as the largest spectrum deal in the country's telecommunications history.
According to Azar, the rally is underpinned by improving macroeconomic conditions, which have bolstered overall market sentiment.
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