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Spinneys 1961 to Boost Stake in Spinneys KSA

MT Newswires·07/30/2026 12:20:26
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12:20 PM EDT, 07/30/2026 (MT Newswires) -- Spinneys 1961 Holding (DFM:SPINNEYS) will increase its stake in Al-Ma'kulat al-Fakhirah for Food Products, or Spinneys KSA, to 70% from 50%. As part of the transaction, the fresh food retailer agreed to acquire a further 20% stake in Spinneys KSA from Abdul Mohsen AbdulAziz Al Hokair Holding Group for 18 million Saudi riyals, according to a Thursday release. Deal closing remains subject to regulatory approvals, including that of the Saudi General Authority for Competition.