Daily archives: March 21, 2017

Initiating a position in Savola Group

We have initiated a position in Savola Group (SAVOLA AB). The position size is c4.5% of our Middle East and North Africa (MENA) portfolio. Savola is a leading Saudi-based conglomerate with operations in the retail and food production sectors, as well as investments in leading companies most significant of which is a 36.52% stake in Almarai (ALMARAI AB), a leading dairy producer in the MENA region. The retail segment includes Panda supermarkets and the foods segment includes oil (Afia) and sugar production.