Tuesday 2 September 2014
 
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Savola

Savola confirms talks with Americana shareholder

Major Saudi Arabian food producer Savola Group said on Tuesday it had conducted preliminary talks with one of the largest shareholders in Kuwait Food Co (Americana) on a potential purchase of that shareholder's stake. Savola s

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Americana says no knowledge of Savola talks

Kuwait Food Company (Americana) said on Monday that it had no knowledge of any talks with Saudi Arabia's Savola Group on a possible acquisition of Americana. "The board and executive administration deny knowledge of any n

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Savola starts talks on acquiring Kuwait's Americana

Major Saudi food producer Savola Group said on Wednesday it had begun preliminary talks on a potential acquisition of Kuwait Food Company (Americana) , one of the Middle East's largest food companies. Savola has attended an in

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Savola in talks to sell packaging unit to Takween

Saudi Arabia's Savola Group has signed a non-binding agreement to sell its packaging business to Takween Advanced Industries, as it moves to focus on its core sectors of food and retailing, it said on Wednesday. Savola, which

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Savola CEO Mannaa to resign

Saudi Arabian food company Savola Group said on Tuesday its chief executive officer Abdulraouf Mannaa is to step down for personal reasons. Mannaa would be replaced by Abdullah Mohammed Noor Rehaimi, currently a board member at Sa

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Savola CEO Mannaa to resign

Saudi Arabian food company Savola Group said on Tuesday its chief executive officer Abdulraouf Mannaa is to step down for personal reasons. Mannaa would be replaced by Abdullah Mohammed Noor Rehaimi, currently a board member at Sa

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Savola beats estimates with 32pc profit jump

Saudi food producer Savola Group reported a higher than expected 32.4 percent jump in second-quarter net profit on Wednesday, beating analyst forecasts as it benefited from higher sales especially in its retail business. The compa

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Savola sells Kazakhstan unit for $28.5m

Saudi Arabia's Savola Group has sold its loss-making Kazakhstan edible oil business to a Russian company for 107 million riyals ($28.5 million), the Riyadh-listed food producer said in a bourse filing on Sunday. Savola, which

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Savola profits jump 43pc in Q1

Saudi Arabia's Savola Group posted a 43 percent rise in first-quarter profit on Sunday, beating analysts' estimates as the food producer expanded its market share in the retail sector, revenue rose and financial charges fell.

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Savola Q4 profit rises 37pc to $150m

Saudi Arabia's Savola Group reported a 37 percent rise in fourth-quarter net profit on Monday, missing analyst estimates after the food company took an impairment of 100 million riyals on its investments and commodity prices fell.

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