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FINANCIAL NEWS
Saudi Savola sells Al-Mujamaat United Company for USD168.29m
27 Dec 2011
(MENAFN) Saudi Arabia’s Savola Group stated that the Knowledge Economic City (KEC) would buy its 80-percent stake in Al-Mujamaat United Company for Real Estate, reported Arabian Business.
The group said that this deal values the 80% stake at USD168.29 million.
The group added that this deal comes as it tries to give more concentration to its food, retail and plastics business.
It is worth mentioning that Savola would grant capital gain of USD61.7 million on this deal in the coming year.
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