Savola shareholders approve Knowledge City stake sale to Taiba

21/09/2022 Argaam
Logos of Savola, KEC and Taiba Investments

Logos of Savola, KEC and Taiba Investments

Savola Group shareholders approved the sale of the group's entire stake in Knowledge Economic City (KEC) to Taiba Investments Co., during the ordinary general assembly meeting held on Sept. 20, according to a bourse filing.

 

Last month, Taiba inked a binding agreement to acquire Savola Group’s entire ownership in KEC for SAR 459.26 million, Argaam reported.

 

Taiba’s shareholders recently approved the buyout of Savola Group’s entire ownership in KEC.

 

Savola's holds 11.47% in KEC, which includes direct ownership of 6.40% and indirect ownership of 5.07% through its shareholding in Knowledge Economic City Developers Co. Limited.

 

For More Mergers and Acquisitions

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