Savola says major shareholder plans ownership transfer to affiliate firm

14/08/2024 Argaam

Savola says major shareholder plans ownership transfer to affiliate firm

Logo of Savola Group Co.

Savola Group Co. received, on Aug. 13, a letter from the heirs of deceased Abduallah Mohammed Al Rabea notifying of the plans to transfer his ownership in Savola to the investment portfolio owned by Mohammed Abduallah Al Rabea & Partners Ltd. Co., a wholly owned company by the heirs.

 

The transfer would not involve any special transaction, Savola said in a statement to Tadawul, adding that the change would reflect on the major shareholders’ list.

 

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Abduallah Mohammed Al Rabea holds 43.9 million shares or 8.22% of the company’s capital, the statement noted.

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