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- The purchase will be financed through a combination of operating cash flows and available bank loans
DUBAI: 海角直播鈥檚 Savola Group has signed a deal to acquire UAE鈥檚 Bayara Holding for SR975 million ($260 million).
The purchase will be financed through a combination of operating cash flows and available bank loans, the company announced in a Tadawul filing.
Ernst and Young was appointed as the financial advisor of the fully cash transaction.
The deal is part of Savola鈥檚 five-year strategy to expand in its eight existing markets 鈥� particularly in 海角直播 and Egypt 鈥� by acquiring companies.
Bayara is a major manufacturer and distributor of branded snacks in the UAE and the Kingdom.