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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.
Tuesday, 20 April, 2021 - 10:45
Saudi Arabia s National Agricultural Development Company (NADEC) teams up with OLAM International Limited, Al Rajhi International for Investment and Abdulaziz Alajlan & Sons Company for Commercial and Real Estate Investment, to bid for one of two mills being privatized in the kingdom | Asharq Al-Awsat Riyadh- Asharq Al-Awsat
A virtual forum held by Saudi Arabia’s National Center for Privatization & PPP (NCP) on Monday was attended by 100 Chinese investors and companies interested in privatization projects in the kingdom.
The forum comes as part of NCP’s periodic meetings and interaction plan with all local and international investors, according to a statement released by the Saudi Press Agency (SPA).
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