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FINANCIAL NEWS
Saudi Savola sells its business in Kazakhstan for USD28.5m
26 May 2014
(MENAFN) Saudi Arabia’s Savola Group has sold its loss-making Kazakhstan edible oil business to a Russian company for USD28.5 million, according to Arab News.
Savola could gain USD4.532 million in its capital in April after posting 43 percent growth in its first-quarter net profit.
The Saudi-based firm is a major producer of cooking oil, sugar and other foodstuffs.
The company said that its business in Kazakhstan posted a USD0.479 million last year.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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