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FINANCIAL NEWS
Saudi Savola to invest USD 100mn in Egypt subsidiary
30 Mar 2016
(MENAFN) Saudi Arabia’s main food products firm, Savola Group proclaimed that it will invest USD 100mn in one of its indirect subsidiaries in Egypt.
Moreover, the investment in United Sugar Co. of Egypt (USCE) will involve a fresh juice injection of USD 50mn, as well as existing debt of USD 50mn to equity.
In addition, the firm’s share in USCE will be reduced from 19.32 percent to 10.37 percent, while an indirect Savola subsidiary will cut 56.65 percent to 30.42 Pct.
The European Bank for Reconstruction and Development (EBRD) will invest in 33 projects, with a cumulative investment of USD 1.9bn.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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