Savola shareholders to vote on selling KEC stake to Taiba on Sept. 20

28/08/2022 Argaam

Logo of Savola Group

Savola Group shareholders will vote on approving the sale of the group's entire stake in Knowledge Economic City (KEC) to Taiba Investments Co., during the ordinary general assembly meeting, scheduled for Sept. 20, according to a bourse filing.

 

Earlier this month, Taiba inked a binding agreement to acquire Savola Group’s entire ownership in KEC for SAR 459.26 million.

 

Savola's holds 11.47% in KEC, which includes direct ownership of 6.40% and indirect ownership of 5.07% through its shareholding in Knowledge Economic City Developers Co. Limited.

 

E-voting on the agenda items will start on Sept. 16.

 

 

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