RIYADH: Almarai Co. announced the completion of procedures for acquiring the assets owned by Binghatti Beverages Manufacturing (BBM) in the UAE for 215 million dirhams ($58.5 million). according to a bourse filing.

The acquisition will enhance Almarai’s ability to serve its customers by expanding the range of beverage products in the region, the company said in a statement on Saudi Stock Exchange (Tadawul).

The transaction was internally financed by Almarai’s operating cash flows.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.