26 October 2009
Saudi-based Savola Group has signed an agreement to buy minority stakes held by British sugar refiner and sweet-ener group Tate and Lyle in sugar refineries in Egypt and Saudi Arabia.

The Middle East's largest sugar refiner said the agreement covered a 3.58 per cent stake in a sugar refinery in Egypt and a 9.68 per cent stake in another refinery in Saudi.

Savola did not disclose the value of the deal.

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