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Saudi Arabia's Savola records EGP 25bn operating investments in Egypt

Saudi Arabia's Savola records EGP 25bn operating investments in Egypt
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Cairo - Mubasher: Savola Group, a Saudi investment holding group in the food and retail sectors, has announced EGP 6 billion assets in Egypt with total operating investments exceeding EGP 25 billion.

The company is one of the largest regional investors in Egypt, currently owning and operating multiple companies, markets, and factories in the consumer food industries, including edible oils, sugar, pasta, bakery, nuts, and snacks, according to a press release.

Meanwhile, the company manages a chain of retail stores through Panda Retail Company.

It is noteworthy to mention that in early June, Savola Foods Company, a subsidiary of Savola, inked an EGP 630 million asset purchase agreement (APA) with the Egyptian Belgian Company for Industrial Investments (Egybelg).