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The Savola Group announces that its subsidiary, Savola Foods Company, has signed a binding agreement to acquire 100% of Bayara Holding Limited.

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Introduction Savola Group announces that its wholly owned subsidiary Savola Foods Company, has signed a binding Share Purchase Agreement for the acquisition of 100% of Bayara Holding Limited, a privately held company with business operating out of the United Arab Emirates and Saudi Arabia. Bayara is a leading manufacturer and distributor of branded healthy snacks (raw & roasted nuts, dates, seeds, dried fruits and confectionery) and cooking ingredients (herbs, spices and pulses).
Date of signing the Memorandum of Understanding 2021-07-10 Corresponding to 1442-11-30
Memorandum Duration The share purchase agreement shall be effective from the date of signing for a period of up to [180] days.
Name of the Counterparty Bayara Holding Limited
Name of Financial Advisor of Each Party Savola appointed Ernst & Young Corporate Finance Limited as its financial advisor.
Major Terms in the Memorandum The major terms of the agreement include:

- 100% acquisition of the issued share capital of Bayara Holding Limited

- The acquisition will be made in cash

Related Parties There are no related parties in this transaction.
Actions to be Taken by the Company during the Memorandum’s Duration During the period of the agreement, Savola Group will complete the regulatory requirements with the General Authority for Competition which is customary procedure for this transaction.
Approvals The proposed acquisition is subject to the approval of the General Authority for Competition or any other relevant regulatory authorities.
Additional Information The transaction consideration of USD 260 million (SAR 975 million) will be financed through a combination of operating cash flows and available bank loans.

This acquisition is a continued activation of Savola Foods Company’s announced strategy to enter attractive, value added categories with increasing appeal within the food sector.

Savola Group will announce any material developments as and when they occur.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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