The National Center for Privatization and the General Grain Corporation announced today the sale of the second mills company and the fourth mills company - the last stage of the privatization process of the flour mills sector - by offering the entire shares in the mills 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's headquarters in Riyadh.<The sale and transfer of ownership of the companies (second and fourth) to the winning bidders was based on the highest offers submitted by strategic investors, and all offers were subject to a number of legal requirements that were fulfilled before concluding the deals for the first and second phases of the allocation of the four companies to the flour mills sector.
The allocation of flour mills represents one of the most prominent sectors targeted to be fully privatized, to achieve the objectives of the Kingdom's Vision 2030.
The process of allocating the four mill companies was supported by the competent regulatory and executive authorities, which include: 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 the 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, thus reflecting on the improvement 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 made to the consortium of Abdulaziz Al-Ajlan Sons for Commercial and Real Estate Investment Company - Al Rajhi International Investment Company - NADEC - Olam International Company 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 Feed Manufacturing Company 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.