Savola considers Almarai stake sale: Report

16/10/2023 Argaam

Savola considers Almarai stake sale: Report

Savola headquarters

Savola Group is working with US-based investment bank Moelis & Co. to find potential buyers for a partial or total sale of its 35% ownership in Almarai Co., Bloomberg reported.

 

Savola owns 345.20 million shares in Almarai, according to Argaam's data.

 

Almarai stock closed today’s session in the red at SAR 57.30, bringing the company's market capitalization to about SAR 19.8 billion.

 

Meanwhile, Savola stock ended at SAR 38.85, with nearly 1.21 million shares exchanged.

 

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