Tharawat Business, an agricultural commodities trader owned by Saudi prince Turki bin Salman, is closing after starting operations three years ago, according to the company’s chief executive officer.
The Riyadh-based trader will close this month after a change in strategy by its holding company, which no longer plans to invest in the business, Carlos Murilo Barros de Mello, CEO of Tharawat Business, said in a phone interview Wednesday. The company was established in 2013 to source food globally and had already started trading sugar, poultry and fine foods, he said.
