News

Send To Friend
Industry minister, GAFI chief witness inking of asset purchase agreement between foodmakers Savola, Egybelg
9 June 2022  -  Sector :  -  Entity :  -  Category : Industry News

Other Titles

The move to buy EGP 630 million worth of assets comes within Savola’s expansion plans in Egypt especially in the field of baked snacks.

Cairo- June 9, 2022

Minister of Trade and Industry Nevine Gamea and CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel-Wahab have witnessed the signing of an asset purchase agreement by Saudi industrial food manufacturer Savola from the Egyptian Belgian for Industrial Investments (Egybelg).

The move to buy EGP 630 million worth of assets comes within Savola’s expansion plans in Egypt especially in the field of baked snacks.

“Signing the agreement amid such an exceptional global economic situation attests to Saudi investors’ confidence in Egypt as a promising market in the MENA region,” Gamea said.

Add new comment
Name*
Email
Comment body*
(0) Comment(s)