Savola Group (2050.SE) announced that it has finalised its IFRS implementation plan, which was approved by Savola's Board of Directors and its audit committee to allow for a gradual transition to IFRS accounting by 1Q17. Key differences from preparing 1Q16 financial statements according to IFRS include a SAR562mn increase in assets, SAR537mn increase in liabilities, SAR380mn increase in minority interest and a SAR330mn decrease in equity. These differences resulted from the consolidation of one of the company’s investment accounts (Herfy), adjustments in operating lease arrangements, recognition of deferred gain on sale, and other adjustments related to end-of-service benefits, deferred costs, assets restoration cost, sales to distributors, investment in associates, property, plant & equipment, deferred tax liability and intangible assets. The company opted for an exemption to revalue FX (SAR1.02bn); the change would have been reflected in retained earnings.  (Tadawul)   Savola: SAR37.89 as of 31 Jan. 2017, Rating: Neutral, TP: SAR38.00/share, MCap: USD5,396mn, SAVOLA AB/2050.SE