Savola obtains regulatory approvals for Al Kabeer's 51% acquisition

18/12/2018 Argaam Special

 

Savola Group has obtained all regulatory approvals on its acquisition of a 51 percent stake in Dubai-based Al Kabeer Group by its wholly-owned subsidiary Good Food Co., the food producer said in a statement to Tadawul today.

 

That included the Saudi General Authority for Competition (GAC) approval on the SAR 565.5 million deal, it said.

 

The edible oil producer added the acquired firm's figures will be consolidated with its financial statements - through Good Food - starting from Q4 2018. 

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