Al-Hassan Shaker sells 2% stake in factory to LG

26/05/2014 Argaam

Al-Hassan G.I. Shaker said it sold a two percent stake at LG-Shaker plant to its partner LG in return for SAR 3.8 million, thereby raising LG’s stake to 51 percent versus 49 percent for Shaker.

The financial impact will be in the second quarter of 2014, the company said in a filing to Tadawul.

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