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  • 12-07-21

    Saudi Arabia’s Savola Group inks deal to acquire UAE’s Bayara Holding

    (MENAFN)Saudi Arabia’s Savola Group inked an agreement to obtain UAE’s Bayara Holding for SR975 million (USD260 million).

    According to the company, the purchase is going to be supported via a combination of operating cash flows and available bank loans.

    As the financial advisor of the fully cash transaction, Ernst and Young was elected.

    The agreement is part of Savola’s five-year strategy to increase in its eight existing markets — particularly in Saudi Arabia and Egypt — by obtaining companies.

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