CAIRO: Saudi Grains Organisation (SAGO) said on Tuesday it had sold 100% stakes in the Second Milling Company and the Fourth Milling Company, completing a previously announced privatisation.

The Second Milling Company was sold for 2.13 billion riyals ($568 million) to Abdulaziz Al-Ajlan Sons Company for Commercial and Real Estate Investment, Al-Rajhi International Investment Company, Nadec and Olam International Company, a statement said.

The Fourth Milling Company was sold for 859 million riyals Alana International Alliance, Abdullah Al-Othaim Markets Company 4001.SE and United Feed Industry Company.

The kingdom sold its flour milling business under the country's Vision 2030 aimed at weaning the economy off oil.

($1 = 3.7503 riyals)

(Reporting by Alaa Swilam, additional writing by Alexander Cornwell. Editing by Franklin Paul and David Evans) ((Alaa.Swilam@thomsonreuters.com;))