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Article: Golden Hope buys stake in Saudi Arabian edible oil firm
- Article from:
- International News on Fats, Oils and Related Materials : INFORM
- Article date:
- October 1, 2005
- Author:
CopyrightCopyright AOCS Press Oct 2005. Provided by ProQuest LLC. (Hide copyright information)
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Golden Hope Plantations Bhd has bought a 40 percent stake in Savola Morocco S.A., a subsidiary of Saudi Arabia's public-listed company Savola Edible Oils Co Ltd, for RM45.8 million it was announced September 15, 2005.
Under the agreement, two joint venture companies will be formed-an Asian company for projects in Asia, southern Africa and Europe, of which Golden Hope will have a 60 percent stake and Savola will hold the remaining 40 per cent.
The second joint-venture company will be in charge of West Asia, northern and western Africa and the equity allocation is ...