Saudi Arabia completes privatisation of Third Milling Company

The sale is part of a wider privatisation programme under Saudi Arabia's Vision 2030 aimed at weaning the economy off oil

  
Saudi traders are seen as they monitor stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

Saudi traders are seen as they monitor stock information at ANB Bank in Riyadh, Saudi Arabia December 15, 2020.

REUTERS/Ahmed Yosri

DUBAI - Al Ghurair Investment, Al Rajhi Holding Group and Masafi said on Thursday they had completed the acquisition of a 100% stake in Third Milling Company (MC3) from Saudi Grains Organisation (SAGO) and the National Center for Privatization and PPP (NCP), the companies said in a joint statement.

The sale is part of a wider privatisation programme under Saudi Arabia's Vision 2030 aimed at weaning the economy off oil.

(Reporting by Yousef Saba; Editing by Toby Chopra) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

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