The Saudi Grains Organization (SAGO) and HSBC Saudi Arabia - the financial advisor for the Privatization - announced the start of the bidding phase for the privatization of the flour milling companies through sharing the Request for Proposal with qualified bidders.
Starting from July 31, 2019, the bidding phase will be limited to the qualified bidders, during which they will conduct the necessary due diligence, and at the end will submit their financial bids.
SAGO said that the qualification phase for the first stage of the privatization of the flour milling companies was concluded in Q1 2019 in accordance with the qualification criteria.
According to Argaam’s data, the Saudi Cabinet decided in October 2018 that the committee, tasked with privatization of the flour milling companies, has transferred assets, liabilities and commitments related to flour milling activities to companies that were set up by Public Investment Fund (PIF).
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