Takween Advanced Industries and Savola Group have started amending Savola Packaging’s articles of association before transferring its ownership to Takween.
 
The transaction is still pending the fulfillment of contractual conditions and regulatory formalities. Takween is required to deliver the full purchase price to Savola Group and transfer all shares of subsidiaries associated with Savola Packaging Systems to Takween, the companies said in a statement to Saudi Arabia’s bourse.
 
Last December, the two listed companies signed an agreement stating that Takween will be able to fully acquire Savola Packaging at a total value of SAR 910 million.

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