SAVOLA INCREASES ITS INTEREST IN AL-MARAI COMPANY TO 36.52%

Savola Group (the Group) is pleased to announce the acquisition of additional shares in Almarai Company for a total cash consideration of SAR 2 Billion. As a result, the Groups shareholding in Almarai Company has increased from 29.95% to 36.52%, the transaction was executed on 16th October, 2012. The transaction has been financed from a combination of operational cash flows and Islamic banking facilities from the local banks. The financial consultant for this transaction was SAMBA Capital.
Dr. Abdulraouf M. Mannaa, the Group Managing Director, mentioned that the acquisition of additional shares in Almarai Company is in line with the Groups strategy of further growing its exposure in its core Sectors, which Foods sector is one of them and is consistent with its previous actions of increasing its shareholding in Almarai Company from 26.5% to 29.95% during 2010.
It is worth to mention that the Group has been a long term investor in Almarai since 1991 and believes that additional investment is in line with Groups focus on growing the Foods business and increase its operational presence in GCC markets.