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Abdullah Al Othaim consortium to acquire Saudi milling firm for $229m
RIYADH, 6 hours, 13 minutes ago Saudi-based Abdullah Al Othaim Markets Company has announced that its consortium with Allana International and United Feed Manufacturing Company has signed a deal worth SR859 million ($229 million) with National Center for Privatization to acquire the Fourth Milling Company. A joint venture agreement would be signed to organise the relations among the consortium members through a holding company that would be incorporated by the consortium members with equal shares, said the company in its filing to Saudi bourse Tadawul. The acquisition transaction with National Center for Privatization will be self-financed from the consortium members, in addition to borrowing from local banks under the name of the holding company that will be incorporated, it stated.