Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- US rate cut expectations lift QSE 104 points; M-cap adds QR6.51bn
- Alkhabeer Capital, Awraaq Digital launch Block Trade Negotiation System
- AD Ports Group opens new office in Islamabad
- Oman starts work on $208m integrated tourism complex in Dhofar
- Dubai Residential REIT delivers $169m profit in H1
- Empower's H1 revenue soars to $395m; net profit up 3.4pc
- Dubai Investments posts profit before tax of $148.7m
- Gulf Bank continues driving women's empowerment with WOW program
- Petrotank to set up $133m refueling hub at Yanbu port
- KFH holds H1 2025 earnings webcast
12/03/2015 05:25 AST
Saudi Arabia's Takween Industries has signed a SR1.3 billion ($346.6 million) Islamic loan with a group of local banks to fund the acquisition of Savola Packaging Company, it said on Wednesday.
Takween in December agreed to buy the packaging unit of the region's largest food firm Savola Group for SR910 million ($242.5 million).
The loan has two parts, according to a Takween bourse filing. As well as a seven-year facility to cover the full cost of the acquisition including the assumption of Savola Packaging's debt, which has a one-year grace period before repayments start, there is a further SR390 million ($104 million) three-year loan which will be used by Takween for working capital.
The loan, provided by Arab National Bank, Samba Financial Group and Bank Albilad, is guaranteed against shares and revenue of Savola Packaging and its subsidiaries, promissory notes and director guarantees.
Takween added the payment of the purchase price and transfer of ownership is currently in progress, but it did not specify a date for the formal completion of the deal.
Reuters
24/07/2016
TAKWEEN Advanced Industries Company submitted a request to the CMA to approve its capital increase by way of rights issue valued at SR600,000,000. The increase will be limited to registered sharehold
Saudi Gazette
31/12/2014
Saudi Arabia's Takween Advanced Industries said on Wednesday it had agreed to buy a packaging unit of the region's largest food firm Savola Group for SR910 million ($242.5 million).
The fi
Reuters
28/12/2014
Saudi Arabia's largest food firm Savola Group has entered into final negotiations with Takween Advanced Industries on the sale of Savola's packaging unit, Takween said on Sunday.
The two f
Reuters
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 52.20 | -0.75 (-1.42 |
| SABIC | 57.65 | 1.20 (2.12 |
| SABICAGRINUTRIENTS | 120.20 | 0.50 (0.41 |
| LIMEINDUSTRIES | 12.80 | 0.37 (2.97 |
| APICO | 37.42 | 0.42 (1.13 |
06/08/2025
Alkhabeer Capital, the financial institution specialising in Shari'a-compliant financial services and brokerage services, has announced the launch of a cutting-edge Block Trade Negotiation System, in
Trade Arabia
06/08/2025
AD Ports Group, a leading enabler of global trade, logistics, and industry, has officially launched its first representative office in Islamabad, the capital of Pakistan, marking a significant milest
Trade Arabia
06/08/2025
Dubai Residential REIT posted a net profit before changes in the fair value of investment property of AED622 million ($169 million) during the first half of 2025, an increase of 10% compared to the f
Trade Arabia
06/08/2025
Emirates Central Cooling Systems Corporation (Empower) has announced robust financial results for the first half with a total revenue of AED1.45 billion ($395 million), up 7.5% over the same period i
Trade Arabia
06/08/2025
Dubai Investments, a leading diversified investment company listed on the Dubai Financial Market (DFM), has reported profit before tax of AED546.28 million ($148.73 million) for the six-month period
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia