Saudi-based Almarai subsidiary completes Modern Food Industries acquisition for $67mln
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Source: zawya.com
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All you need to know before Tadawul's opening bell on Tuesday
RIYADH: Saudi Arabia’s main index, TASI, ended higher for a second consecutive day in the previous trading session, up 0.37 percent to 12,249 points, as the earnings wave continued. The parallel market Nomu edged 0.14 percent lower to 25,281 points, led by glass manufacturer Obeikan on debut. Elsewhere in the Gulf, stock indexes of Abu Dhabi, Qatar, Oman, and Kuwait all closed
Source: arabnews.com
Almarai subsidiary completes Modern Food Industries acquisition for $67m
RIYADH: Saudi dairy giant Almarai Co. announced the acquisition of a 25 percent stake in Modern Food Industries by its subsidiary, Western Bakeries Co., for SR250 million ($67 million). The acquisition makes Almarai Co. the full owner of Modern Food Industries, according to Saudi exchange Tadawul. Through this acquisition, the company will gain a stronger position in the food
Source: arabnews.com
Saudi Arabia's Almarai unit expands stake in Modern Food Industry to 75%
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Source: zawya.com