Saudia Dairy and Foodstuff Co. (SADAFCO) [2270.SE] signed a memorandum of understanding (MOU) with Saudi Factory for Electrical Appliances Company Ltd. (SELECT) for SAR16.5 million to acquire the lease rights for the land in Jeddah’s First Industrial City. The MoU signed on 27 January also includes the purchase of the buildings on the land and is effective for 125 days. The move comes as part of SADAFCO’s efforts to enhance its manufacturing, logistics and warehousing capabilities as the land is within close proximity to its existing two factories in Jeddah  SADAFCO will finance the deal internally, once finalised. (Company disclosure)   SADAFCO: SAR114.22 as of 27 January 2016, Rating: Buy, FV: SAR157.00 per share, MCap: USD990 million, SADAFCO AB / 2270.SE