Savola confirms no creditor objections to capital cut

11/12/2024 Argaam
Logo of Savola Group

Logo of Savola Group

Savola Group stated that today, Dec. 11, marks the final day for creditor objections to its capital reduction, with none received so far, according to a statement to Tadawul.

 

The company plans to hold an extraordinary general meeting (EGM) on Dec. 12 to approve the capital reduction and distribute its entire 34.52% stake in Almarai to eligible shareholders, the statement added.

 

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Savola began the creditor objection period on Sept. 26, aiming to address surplus capital, enable the in-kind distribution of its Almarai stake, and enhance its capital structure, according to Argaam data.

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