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AlRaha AlSafi Food completes acquisition of first milling firm for $540m January 06, 2021
AlRaha AlSafi Food Co, consisting of Almutlaq Group, AlSafi Holding Co., Abunayyan Trading Co. and Essa Al-Ghurair Investment LLC, announced the completion of First Milling Company (MC-1) through the Phase-1 competitive tender of the Saudi flour mills privatization for $540 million (SR2.03 billion).
RIYADH AlRaha AlSafi Food Co, consisting of Almutlaq Group, AlSafi Holding Co., Abunayyan Trading Co. and Essa Al-Ghurair Investment LLC, announced the completion of First Milling Company (MC-1) through the Phase-1 competitive tender of the Saudi flour mills privatization for $540 million (SR2.03 billion).
The transaction is a culmination of extensive work carried out with the National Centre for Privatization (NCP) and the Saudi Grains Organization (SAGO). MC-1 is the largest among the four milling companies, which is part of SAGO’s planned pri