<The National Center for Privatization (NCP) and the General Grain Corporation (Grain Corporation) announced today the sale of the second milling company and the fourth milling company - the final stage of the privatization process of the flour milling sector - by offering the entire shares in the milling companies to qualified strategic investors from the private sector, in the presence of His Excellency the Minister of Environment, Water and Agriculture, Chairman of the Board of Directors of the General Grain Corporation, Chairman of the Specialized Committee for the Privatization of Flour Mills, and Board Member of the National Center for Privatization Engineer Abdul Rahman bin Abdul Mohsen Al Fadhli, at the Ministry of Environment, Water and Agriculture headquarters in Riyadh.
The sale and transfer process of ownership companies (second and fourth milling companies) will be completed by the Ministry of Environment, Water and Agriculture, Ministry of Finance, National Center for Privatization. Ministry of Environment, Water and Agriculture, Ministry of Finance, National Center for Privatization, and other relevant authorities.
The General Grain Corporation is the regulator of the milling sector after the sale and the main supplier of wheat to the milling companies.
On the occasion of the completion of the privatization processes, the Corporation expressed its wishes of success to the winning alliances in managing the companies towards achieving the desired objectives of privatization.
It is noteworthy that the sale of the assets of the second mills company and the fourth mills company to the private sector comes as a contribution to strengthening the sector and the desired benefits from it by improving the quality of performance and increasing the diversity of products, which will be reflected in the upgrading of services provided to citizens, and increasing job opportunities through the contribution of the private sector towards a sustainable and prosperous economy.
It is worth mentioning that the sale of the second mills company was sold to the consortium of Abdulaziz Al Ajlan Sons for Commercial and Real Estate Investment Company - Al Rajhi International Investment Company - NADEC - Olam International based on their financial offer of SAR 2,138,000,000, the highest financial offer submitted for this company, and the fourth mills company was sold to the consortium of Alana International - Abdullah Al Othaim Markets Company - United Company for Feed Industry based on their financial offer of SAR 859,000,000, the highest financial offer submitted for this company.<It should be noted that HSBC Saudi Arabia is acting as the financial advisor for the privatization process with the support of the National Center for Privatization.
The sale and transfer process of ownership companies (second and fourth milling companies) will be completed by the Ministry of Environment, Water and Agriculture, Ministry of Finance, National Center for Privatization. Ministry of Environment, Water and Agriculture, Ministry of Finance, National Center for Privatization, and other relevant authorities.
The General Grain Corporation is the regulator of the milling sector after the sale and the main supplier of wheat to the milling companies.
On the occasion of the completion of the privatization processes, the Corporation expressed its wishes of success to the winning alliances in managing the companies towards achieving the desired objectives of privatization.
It is noteworthy that the sale of the assets of the second mills company and the fourth mills company to the private sector comes as a contribution to strengthening the sector and the desired benefits from it by improving the quality of performance and increasing the diversity of products, which will be reflected in the upgrading of services provided to citizens, and increasing job opportunities through the contribution of the private sector towards a sustainable and prosperous economy.
It is worth mentioning that the sale of the second mills company was sold to the consortium of Abdulaziz Al Ajlan Sons for Commercial and Real Estate Investment Company - Al Rajhi International Investment Company - NADEC - Olam International based on their financial offer of SAR 2,138,000,000, the highest financial offer submitted for this company, and the fourth mills company was sold to the consortium of Alana International - Abdullah Al Othaim Markets Company - United Company for Feed Industry based on their financial offer of SAR 859,000,000, the highest financial offer submitted for this company.<It should be noted that HSBC Saudi Arabia is acting as the financial advisor for the privatization process with the support of the National Center for Privatization.
