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Takween in talks to buy Savola packaging unit

Staff writer |
Saudi Arabia's food company Savola Group has entered into final negotiations with Takween Advanced Industries on the sale of Savola's packaging unit.

The two companies extended talks in November and set a December 31 deadline for finalising the purchase price for all shares in Savola Packaging Company. They are still determining the value of the company, Takween's statement on Sunday said without mentioning a new deadline.

Implementation of the deal would depend on approval by related government agencies.

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