Takween to buy Savola packaging unit

31/12/2014 16:46 AST

Saudi Arabia's Takween Advanced Industries said on Wednesday it had agreed to buy a packaging unit of the region's largest food firm Savola Group for SR910 million ($242.5 million).

The firms reached agreement the price for Savola Packaging Company (Target) after due diligence but the purchase remains conditional on regulatory approval, Takween said in a bourse statement.

The purchase will be financed through a syndicate of Saudi banks, to be announced later and conditional on Takween shareholders' approval, the statement said.

Savola said in July it had entered a non-binding agreement with Takween to sell its entire stake in Savola Packaging Company as it looked to focus on its core sectors of food and retailing.


Reuters

News

CMA approves Takween Advanced Industries capital hike by rights issue

24/07/2016

TAKWEEN Advanced Industries Company submitted a request to the CMA to approve its capital increase by way of rights issue valued at SR600,000,000. The increase will be limited to registered sharehold

Saudi Gazette

Saudi Takween signs $347m loan for Savola unit buy

12/03/2015

Saudi Arabia's Takween Industries has signed a SR1.3 billion ($346.6 million) Islamic loan with a group of local banks to fund the acquisition of Savola Packaging Company, it said on Wednesday.

Reuters

Saudi's Takween in talks to buy Savola packaging unit

28/12/2014

Saudi Arabia's largest food firm Savola Group has entered into final negotiations with Takween Advanced Industries on the sale of Savola's packaging unit, Takween said on Sunday.

The two f

Reuters

Most Viewed Companies

Ticker Price Volume

Valuation

TAKWEEN Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
MAADEN 67.05 -1.05 (-1.55%)
SABIC 57.30 -0.70 (-1.21%)
SABICAGRINUTRIENTS 141.00 -7.50 (-5.06%)
YANSAB 33.00 -0.62 (-1.85%)
LUBEREF 109.20 -0.30 (-0.28%)

Recent News

Global Finance names KFH as 'Best Bank for Sustaining Communities in the Middle East'

24/04/2026

Kuwait Finance House (KFH) has been named "Best Bank for Sustaining Communities in the Middle East" by Global Finance magazine, as part of its Sixth Annual Sustainable Finance Awards, recognizing out

Kuwait Times

Dubai Taxi Company expands fleet with 600 new taxi plates

24/04/2026

Dubai Taxi Company (DTC), a leading provider of comprehensive mobility solutions in Dubai, has acquired another 600 new licence taxi plates through the latest auction conducted by the Dubai Roads and

Trade Arabia

Emirates Islamic operating profit rises 7% to $299.52m in Q1

24/04/2026

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has reported an operating profit of AED1.1 billion ($299.52 million) for the quarter ending March 31, 2026, 7% growth o

Trade Arabia

ADCB delivered record Q1 profit before tax of $1bn

24/04/2026

ADCB, a leading UAE banking group, has delivered record profit before tax of AED3.781 billion in Q1'26, up 30% year on year, extending profit growth track record to 19 consecutive quarters.

Trade Arabia

Al Salam Bank sells its stake in Gulf African Bank

24/04/2026

Bahrain headquartered-Al Salam Bank has announced the sale of its 20.94% stake in Gulf African Bank, the largest Islamic Bank in Kenya.

The sale forms part of AL Salam Bank's broader group

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap