Mezzan Holding to acquire 29% of Saudi Mezzan Foods
Mezzan Holding subsidiary will own 99% of Mazzen Food
An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016. Image used for illustrative purpose
REUTERS/Faisal Al Nasser
By Staff Writer, Mubasher
Riyadh – Mubasher: Mezzan Holding Company announced that it has entered into a shares purchase agreement (SPA) with a subsidiary of Al Faisaliah Group for the acquisition of 29% stake in Mezzan Foods Company, based in Saudi Arabia.
Mezzan Holding subsidiary will own 99% of Mazzen Food, and the subsidiary of Al Faisaliah Group will retain the remaining 1% stake, according to the company’s filing to Boursa Kuwait on Wednesday.
The Kuwait-based company noted that the transaction is expected to be concluded within two months of date.
The agreement’s total value would be approximately KWD 1.2 million.
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