Please wait...
GulfBase Live Support
- Oman's Islamic finance industry set to reach $45bn this year, says Fitch
- MSX index records seventh straight monthly gain, up 7.9% in January
- Gulf Bank reports net profit of KD 52.4 million for full year 2025
- Gulf Bank participates in Al-Bayan Bilingual School carnival to support financial literacy
- OPEC+ agrees to keep oil output unchanged
- QNB: Macro environment still positive for emerging market in 2026
- QFC introduces 'targeted incentives' as it returns to Web Summit 2026
- UAE's non-oil foreign trade exceeds Dh3.8 trillion for first time in history
- Gold, silver panic sell-off in UAE driven by profit-booking, say jewellers
- GWC inks strategic collaboration with EU cloud platform Apify
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 | 59.55 | 0.00 (0.00 |
| SABIC | 54.95 | 0.00 (0.00 |
| SABICAGRINUTRIENTS | 116.00 | 1.00 (0.86 |
| YANSAB | 30.42 | -0.10 (-0.33 |
| LUBEREF | 94.70 | 0.75 (0.79 |
02/02/2026
Saleh Abdulaziz Al Rashed & Sons Company, a leading provider of construction materials, mining and industrial spare-parts solutions based in Saudi Arabia, said on Sunday it set a price range of SAR45
Trade Arabia
02/02/2026
Gulf Bank KSCP ("Bank") announced its financial results for the full year ending December 31, 2025. The Bank reported a net profit of KD 52.4 million for the full year 2025, with an earning per share
Kuwait Times
02/02/2026
As part of its ongoing commitment to community engagement, youth empowerment, and financial literacy, Gulf Bank participated in the Al-Bayan Bilingual School Carnival, reaffirming its strategic focus
Kuwait Times
02/02/2026
Qatar National Bank (QNB) said the global macroeconomic framework for 2026 remains supportive of emerging market (EM) assets, despite ongoing volatility. The bank emphasized the growing importance of
QNA
02/02/2026
Gulf Warehousing Company (GWC), one of the region's leading logistics providers, has sealed a strategic collaboration with Apify, a European cloud platform specializing in web data extraction, automa
Trade Arabia
Financial Information Co.
Saudi Arabia