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Savola plans to issue sukuk
- Saudi Arabia: Wednesday, October 24 - 2012 at 02:11
Savola Group has announced it is to seek shareholder approval for plans to issue Islamic bonds, Reuters has reported. The firm, which owns the Middle East's biggest sugar refining business, said it will propose the plans at an extraordinary general meeting, the date of which will be announced once regulatory approvals for the move have been granted. The proposal includes the company's right to issue sukuk or any other securities, through one or more tranches or a series of issues under one or more programmes.
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