Fawaz Al Hokair’s BoD approves sale of Blanco for SAR350mn
Fawaz Al Hokair’s [4240.SE] Board of Directors (BoD) has approved the sale of the company’s entire stake in Spanish women’s wear brand Blanco (110 stores in Spain, eight in Portugal and international franchise stores) for SAR350mn to a Dubai-based investment company (partly-owned by the company’s Chairman). The deal, which was first announced last week, is still subject to general assembly approval. (Company disclosure) Al Hokair: SAR52.76 as of 14 June 2016, Rating: Neutral, FV: SAR42.00 per share, MCap: USD2,955 million, ALHOKAIR AB / 4240.SE
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