Saudi's Savola acquires stake in Egyptian firms

19 October 2011: Saudi-based Savola Group has signed a $98m (approx Rs 480.2 crore) agreement to buy a 78 per cent stake in two Egyptian firms. These two companies are engaged in the field of manufacturing and marketing pasta inside and outside Egypt and have two factories in Egypt with production capacity of 120,000 tpa, with a market share of 30 per cent.

Source: Ameinfo

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