Savola Group (“Savola”) has announced its intention to proceed with the distribution of its entire 34.52% shareholding in Almarai, the Middle East’s leading food and beverage company, to eligible Savola shareholders following a SAR 6.0 billion rights issue. This will be subject to regulatory authorities’ approvals and thereafter EGM approval.

The objective of the distribution of the Almarai shares owned by Savola Group is to unlock value for Savola’s shareholders, who will benefit from direct exposure to the growth potential and future dividend capacity of Almarai, one of the region’s leading food companies. Almarai has been one of the most successful investments for Savola Group to date.

The rights issue will allow Savola to strengthen its financial position and continue to invest in the growth of its portfolio, while paying down debt and enabling the distribution of the Almarai shares to eligible Savola shareholders.