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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
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