On May 6, 2018, Savola Group signed a share purchase agreement to acquire 51 percent shareholding into Dubai-based Al Kabeer Group.
|Deal Value||Method of Finance||Type||Status|
|150.80 Million USD||Borrowing/Loans , Internal Resources||Stake||Completed|
|Savola Group - Savola Group|
|Argaam Sector||Multi- Lines|
|*Market Cap (Million SAR)||25,978.16|
|Al Kabeer Companies Group - Al Kabeer Companies Group|
|*Market Cap (Million SAR)||-|
|Expected date for Completion||06-11-2018|
The share sale deal is set to take six months from signing date. The agreement stipulates that 51 percent share of Al Kabeer Group would be sold for SAR 565.5 million in cash.
The buyer may appoint executive team and a majority of board members.
The seller shall provide all necessary information and disclosures as required.
* Al Kabeer is a manufacturer and distributor of frozen foods that was established in 1978. Its operations span Saudi Arabia, the United Arab Emirates, Bahrain and Oman.
* No related parties are involved in the deal.