Winners of the latest
The award of each Milling Company was decided based on the highest financial bids submitted by qualified strategic investors, which were thoroughly reviewed to ensure adherence to the terms stipulated in the Request for Proposal for the second batch of the privatization, in accordance with the privatization of the flour milling, as shown below.
The Second Milling Company was picked up by a consortium of Abdulaziz AlAjlan Sons Co. for Commercial and Real Estate Investments, Sulaiman Abdulaziz AlRajhi International Co., NADEC, and Olam International ltd., after putting up 2.138 billion riyals.
The Fourth Milling Company was won by a grouping of Allana International, Abdullah Al Othaim Markets, and United Feed Manufacturing Company, who bid with 859 million riyals.
Middle EastSaudi Arabia completes mills privatisation
Reuters
1 minute read
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
(Adds details)
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.