Savola sells Kazakhstan unit for SAR 107 million

25/05/2014 Argaam

Savola Group sold its edible oil unit in Kazakhstan for around SAR 107 million on May 22, 2014.

Savola made a capital gain of 17 million riyals from the sale, according to a filing to Tadawul, which will be reflected in the second quarter results.

The company said it will use the proceeds of the deal in developing its core business.

The Kazakhstan unit made a loss of 1.8 million riyals in 2013.

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