Middle EastSaudi Arabia completes mills privatisation
Reuters
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Saudi Grains Organisation (SAGO) said on Tuesday it had sold 100% stakes in the Second Milling Company and the Fourth Milling Company, completing a previously announced privatisation.
The Second Milling Company was sold for 2.13 billion riyals ($568 million) to Abdulaziz Al-Ajlan Sons Company for Commercial and Real Estate Investment, Al-Rajhi International Investment Company, Nadec and Olam International Company (OLAM.SI), a statement said.
The Fourth Milling Company was sold for 859 million riyals Alana International Alliance, Abdullah Al-Othaim Markets Company (4001.SE) and United Feed Industry Company.
The kingdom sold its flour milling business under the country s Vision 2030 aimed at weaning the economy off oil.
4/20/2021
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CAIRO, April 20 (Reuters) - Saudi Grains Organisation (SAGO)
said on Tuesday it had sold 100% stakes in the Second Milling
Company and the Fourth Milling Company, completing a previously
announced privatisation.
The Second Milling Company was sold for 2.13 billion riyals
($568 million) to Abdulaziz Al-Ajlan Sons Company for Commercial
and Real Estate Investment, Al-Rajhi International Investment
Company, Nadec and Olam International Company, a
statement said.
The Fourth Milling Company was sold for 859 million riyals
Alana International Alliance, Abdullah Al-Othaim Markets Company
and United Feed Industry Company.
The kingdom sold its flour milling business under the
country s Vision 2030 aimed at weaning the economy off oil.