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FINANCIAL NEWS
Saudi’s Almarai gets USD210.6m fire recompense
28 Jun 2015
(MENAFN) Saudi Arabia’s Almarai, the largest dairy firm in the Gulf region, announced getting a recompense of about USD210.6 million for damages ensued by a fire in one of its bakeries, Reuters reported.
Moreover, the company has already obtained another recompense of around USD66.63 million from Arabian Shield Cooperative Insurance Co in March, which was added into the Almarai’s first-quarter results.
This March award would be offset against the amount agreed with the insurer on June 27, which was net of policy excesses, Almarai said in its statement.
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