Riyadh – Mubasher: Saudi Arabia-based Savola Group on Tuesday said that there are no important developments regarding purchasing Sanabel Al-Salam.
Savola is still studying the opportunities of selling, acquiring, or related investments to enhance its business, according to a statement to the Saudi Stock Exchange (Tadawul).
On Monday, sources reported that Savola is holding discussions with Sanabel Al-Salam, the sweets and confectionery-maker, to buy it at a value of SAR 1.13 billion ($300 million).
By 1:37 pm KSA time, Savola’s stock shed 0.22% reaching SAR 45.40.
