NFPC has invited Almarai, the Gulf's largest dairy company, to conduct due diligence as part of a competitive sales process, according to a statement to Riyadh's bourse.
In December, Reuters reported that Almarai was one of several companies to have shown an interest in NFPC, citing sources.
NFPC is one of the largest food and dairy manufacturers and distributors in the United Arab Emirates (UAE) and markets brands including Milco, Lacnor and Oasis bottled water.