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Business

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Salik profit slips in H1

The company said traffic recovery supported resilience.

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Savola sells KEC stake for $122m

Knowledge Economic City is owned by Savola Group directly and indirectly at an approximate share of 11.47 percent. (ITP)
By TRENDS Desk
August 11, 2022 3:09 pm
  • The company said it wants to focus on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses
  • Knowledge Economic City’s shares ended Wednesday’s trading session 6.12 percent higher at SR14.56

Savola Group has sold its stake in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited for $122 million.

The company wants to focus on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses, the group said in a bourse filing.

Knowledge Economic City is owned by Savola Group directly and indirectly at an approximate share of 11.47 percent.

Knowledge Economic City’s shares ended Wednesday’s trading session 6.12 percent higher at SR14.56.

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