Savola is considering option of selling portion or entire stake in Al Marai Company

Savola Group announced on Tuesday that no decisions have been made at this stage in relation to the potential sale of a portion of its stake in Al Marai Company, saying that this is one of such options under consideration and that the Group has appointed Moelis & Co. to advise it in relation to such option. Furthermore, there is no material development to disclose at this stage as per the regulations.

The Company said Today on Tadawul that any material developments in this connection will be announced once occurred if and when required in compliance with CMA relevant laws and regulations.

The Company added that it would like to advise shareholders and relevant stakeholders not to rely on any news from unofficial sources and to only obtain information regarding the Savola Group from approved sources, including information published on the Saudi Stock Exchange (Tadawul) website or the Group’s official website.

This comes with reference to the media reports & article published on 16/10/2023 in relation to a potential sale of a portion or the entire Savola Group stake in Al Marai Company and the appointment of Moelis & Co. to assist with the potential sale.