Saudi Arabia kick starts sale of state flour mills | Reuters

Saudi Arabia kick starts sale of state flour mills | Reuters:

Saudi Arabia on Thursday kicked off the sale of its flour mills, one of the first privatizations of the kingdom and a litmus test for other large state asset sales to follow. Saudi’s state grain buyer SAGO said it would start accepting applications for qualification of potential interested investors on Aug. 26. The kingdom will also make an announcement regarding the timeline for the qualification process on the same day, SAGO said in a statement. HSBC Saudi Arabia ― the financial advisor for the privatization ― said the launch of the qualification phase preceded the potential bidding phase.