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×Savola Group acquires stakes in Savola Foods and Panda Retail
On November 14, 2013, Savola Group acquired Al-Muhaidib Holding Company 10.0 percent stake in Savola Foods Company and 18.6 percent stake shareholding in Al Azizia Panda United Company (Panda Retail Co.)
Deal Value | Method of Finance | Type | Status |
90.67 Million USD | Capital Increase | Acquisition | Completed |
The Acquiring Party
Savola Group - SAVOLA GROUP | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Food products |
*Market Cap (Million SAR) | 26,645.63 |
*Price/Share (SAR) | 49.90 |
The Acquired Party
Savola foods Co. - Savola foods Co. | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | Diversified Financials |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
Panda Retail Co. - Panda Retail | |
Country | Saudi Arabia |
Status | IPOs |
Argaam Sector | Supermarkets and Hypermarkets |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
Announced Date | 22-08-2010 |
Expected date for Completion | 14-11-2013 |
Related Parties
Company | Role |
---|---|
Al Muhaidib Holding Co. | Owner |
Main Details
On August 22, 2010, Savola Group signed primirely memo of understanding with Al-Muhaidib Holding Company to acquire the company’s stakes in Savola Foods Company and Al Azizia Panda United Company (Panda Retail Co.) for issuing new shares to Al-Muhaidib Holding Company
On September 25, 2010, Savola Group signed primirely memo of understanding with Al Hokair Group to acquire its stake in Al Azizia Panda United Company (Panda Retail Co.)
On October 31, 2011, Al Hokair Group canceled the memo of understanding (MoU) as no agreement had been reached.
Note
* As result of the deal, Al-Muhaidib Holding Company raised its stake in Savola Group to 14.34 percent from 8.52 percent, Savola Group fully acquired Savola Foods and raised its stake in Al Azizia Panda United Company (Panda Retail Co.) to 93 percent.
* On November 14, 2013, Savola Group deposited the additional new shares (33.98 million shares) directly into the portfolio of Al-Muhaidib Holding Co.