Oct 26 2011 |
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Savola buys two local pasta factories
Saudi Arabia's Savola Group signed an agreement on Monday, buying a 78 per cent stake in two Egyptian firms for LE557 million, according to Reuters.A Savola statement added that the two firms, Al-Malika and Al-Farasha, work in the field of manufacturing and marketing pasta both inside and out of Egypt. They run two factories in Egypt with a production capacity of 120,000 tonnes per annum, with a market share of 30 per cent.
© Al Ahram Weekly 2011
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