Mills sale heralds new era for privatisation in Saudi Arabia. Minister hails move which is expected to boost efforts on food security in the kingdom. SAGO will become the regulator of the milling sector and main supplier of wheat, barley and other grains to the privatised milling companies. Saudi Arabia has hailed a new era for food security in ...
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DetailsThe Ministry of Energy, Industry and Mineral Resources (MEIMR) seeks to increase mining's contribution to GDP from $3 billion (over the last five years) $64 billion by 2030 and generate more than 25,000 new jobs in the industry. Recent changes in Saudi Arabia's mining laws have created conditions which allow greater access for foreign ...
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DetailsSAUDI ARABIA – Saudi Arabia has started privatizing its flour milling sector, as part of a wide-reaching overhaul of its economy, with the Kingdom recently privatizing two of its four flour milling companies for US$740.5 million.. Saudi Arabia has traditionally imported and milled wheat, and then sold the resulting flour at subsidized prices. But it has been moving …
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DetailsAS&H in co-operation with Clifford Chance advises on SAR 2.138 billion acquisition of Second Milling Company in Saudi Arabia as part of Vision 2030-related privatisation drive AS&H in co-operation with Clifford Chance advises King Abdullah Financial District (KAFD) on the sale of a 53-floor office tower to Riyad Bank
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DetailsAS&H in co-operation with Clifford Chance advises on SAR 2.138 billion acquisition of Second Milling Company in Saudi Arabia as part of Vision 2030-related privatisation drive AS&H in co-operation with Clifford Chance advises King Abdullah Financial District (KAFD) on the sale of a 53-floor office tower to Riyad Bank
DetailsMORRISTOWN, N.J., Dec. 6, 2021 – JLL Capital Markets announced today that it has closed the sale of Montclair Residences at Bay Street Station, a 163-unit, transit-oriented multi-housing community in suburban New York City community of Montclair, New Jersey. JLL represented the seller, Clarion Partners, LLC. Mill Creek Residential Trust, LLC and Cigna …
DetailsAbuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance advised a consortium comprising Saudi Arabia's Al Rajhi Holding Group and the UAE's Al Ghurair Foods LLC on its US$200 million (SAR750 million) acquisition of the Third Milling Company from Saudi Grains Organisation (SAGO) as part of the privatisation of the flour milling sector in Saudi …
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DetailsThe flour milling sector represents one of the targeted sectors for full privatization under Saudi Arabia's Vision 2030. "The sale of the four milling companies to the private sector aims to further strengthen the capabilities of the sector, enhance performance, support diversification of products while maintaining quality," the statement added.
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DetailsSaudi Arabia completed the first batch of its flour milling sector privatisation through a full divestment of two of its four milling companies to qualified investors. The First Milling Company went to Raha AlSafi consortium for 2.02 billion Saudi riyals (Dh1.98bn), whereas the Third Milling Company was awarded to Alrajhi-Ghurair-Masafi ...
DetailsSAGO said in January it had set up four milling companies in advance of a privatisation planned for later this year. This came after the Saudi cabinet in 2015 approved the establishment of four joint-stock companies bundling the SAGO's wheat and feed milling operations, to be overseen by the state-owned PIF, Saudi Arabia's sovereign wealth fund, in coordination with SAGO.
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