Savola selling part of shares in Al-Marai Co. - latest developments

18/09/2017 09:58 AST

Savola Group announces the latest developments in relation to selling part of its shares in Al-Marai Company Further to Savola Group's (Savola) announcement on Wednesday 13 September 2017 relating to the results of the accelerated book building process for the sale of 16 Million shares in Al-Marai Company representing 2% of the share capital of Al-Marai Company. Savola would like to announce the successful execution and settlement of all of the special trades (negotiated trades) related to the sale of the aforementioned shares as per the details disclosed by the company in its announcement dated 13 September 2017.

In light of the above, Savola will record a profit of SAR 694.1 Million in its third quarter results for this financial year as a result of this transaction.

It is further noted that the ownership of Savola in Al-Marai Company has decreased from 36.52% to 34.52% following the successful completion of the transaction.


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