Al Othaim consortium signs contract with NCP to acquire MC4

Abdullah Al Othaim Markets Co.’s consortium signed today, July 13, a contract to acquire the Fourth Milling Co. (MC4) with the National Center for Privatization & PPP (NCP), Al Othaim said in a Tadawul statement.

Under the contract, the entire share capital of MC4 will be transferred from NCP to Gulf Flour Milling Industrial Co., which was equally established by the consortium members for this purpose.

There no change in the acquisition price, Al Othaim noted, expecting the relevant financial impact is expected to appear in the subsequent periods.

Last April, MC4 was sold to the consortium of Al Othaim, Allana International Ltd. and United Feed Manufacturing Co. at a total value of SAR 859 million, Argaam earlier reported.