Saudi Savola plans to sell plastic unit
Since this July, Savola and Takween have been in non-binding talks regarding Takween taking Savola’s entire stake in their plastic unit. Talks were initially to be concluded on November 11 but this period was extended in order to give both parties more time to mull over the details and negotiate. The new deadline for the non-binding agreement was set as December 31.
Savola recorded a 53.3% increase in their net profit in the third quarter.
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