Saturday, 21 October 2017 05:43 GMT
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Saudi Savola sells its business in Kazakhstan for USD28.5m

(MENAFN) Saudi Arabia's Savola Group has sold its loss-making Kazakhstan edible oil business to a Russian company for USD28.5 million, according to Arab News. Savola could gain USD4.532 million in its capital in April after posting 43 percent growth in its first-quarter net profit. The Saudi-based firm is a major producer of cooking oil, sugar and other foodstuffs. The company said that its business in Kazakhstan posted a USD0.479 million last year.
Saudi Savola sells its business in Kazakhstan for USD28.5m