Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, said it had spent $35 million to buy a minority stake in Jordanian poultry producer Al Jazeera Agricultural Co, its first investment in Jordan.

SCPE said it would obtain two seats on the board of Al Jazeera, Jordan's only fully integrated poultry producer and distributor with products including fresh and frozen chicken, hatching eggs and chicks, and chicken feed.

The investment will support Al Jazeera's expansion in the region, SCPE said in a statement on Monday without specifying the size of the minority stake or giving other details.