Savola Group shareholders will start tomorrow, Sept. 16, e-voting on the agenda of the ordinary general assembly meeting, scheduled for Sept. 20, according to a bourse filing.
They will vote on approving the sale of the group's entire stake in Knowledge Economic City (KEC) to Taiba Investments Co.
Earlier in August, Taiba inked a binding agreement to acquire Savola’s entire ownership in KEC for SAR 459.26 million.
Savola holds 11.47% in KEC, which includes direct ownership of 6.40% and indirect ownership of 5.07% through its shareholding in Knowledge Economic City Developers Co. Limited.
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