Saudi Arabia's AlRajhi and Dubai's Al Ghurair eye SAGO flour mills- sources | Reuters:
Saudi Arabia’s AlRajhi Holding Group and Dubai’s Al Ghurair have teamed up in a consortium to bid for Saudi Arabian state grain buyer SAGO’s flour mills, three sources familiar with the matter told Reuters.
SAGO, among the world’s largest wheat and barley buyers and which imports Saudi Arabia’s entire wheat supply of about 3.5 million tonnes a year, last year put up the mills for sale in one of the kingdom’s first privatizations.
AlRajhi and Al Ghurair, two large family conglomerates, are seeking an adviser to help with a potential deal and raise financing for the purchase, said the sources who declined to be named due to commercial sensitivities.
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