Mukka Proteins has taken another decisive step in its expansion strategy by formalising its planned investment in United Gulf Fishery Products LLC. Following its earlier communication dated 12 November 2025, the company has now executed a Share Transfer Agreement (STA) on 10 December 2025 to acquire a 68% equity stake in the Oman-based entity.
This agreement has been signed with Mr. Saif Salim Ahmed Al-Rawahi, a shareholder of United Gulf Fishery Products LLC. Mukka Proteins confirmed that it currently holds no existing shareholding in the investee firm. The acquisition, however, will move forward only after the necessary approvals and compliance checks under the Foreign Exchange Management (Overseas Investment) Regulations, 2022 or any updated guidelines issued by the Reserve Bank of India.
Under the terms of the STA, Mukka Proteins will purchase 34,000 shares of the company at a face value of OMR 1 each, amounting to a total consideration of OMR 34,000. The agreement does not involve any related-party connection, and the transaction does not fall under the related-party classification. The company has also clarified that there are no special rights or board-level nominations arising from this agreement, and there is no potential conflict of interest attached to the transaction.
