Second, fourth flour mills sold to Alajlan, Allana consortiums
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Logo of The National Center for Privatization & PPP
The National Center for Privatization & PPP (NCP) announced the completion of the second and last phase of the privatization of the remaining two flour milling firms, namely Second Milling Co. (MC2) and Fourth Milling Co. (MC4) to strategic investors in the private sector.
MC2 was sold to the consortium of Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment, Al Rajhi International for Investment, National Agricultural Development Co. (NADEC) and OLAM International Limited for a total value of SAR 2.138 billion – the highest bid made by this company.
MC4 was sold to the consortium of Abdullah Al Othaim Markets Co.’s (Al Othaim), Allana International Ltd. and United Feed Manufacturing Co. for a total value of SAR 859 million – the highest bid made by this company.
The sale and ownership transfer completion are subject to some legal requirements that should be fulfilled before the deal closure.
The first phase of the flour milling sector privatization was finalized in December 2020, Argaam reported.