Savola Group's (2050.SE) announced plans to start implementing International Financial Reporting Standards (IFRS). The company has appointed KPMG as an external advisor for the transition process, in addition to establishing an internal team responsible for its implementation, and has started preparing the first IFRS financial statements for the quarter ended 31 March 2016. The company expects to finish the transition process in 4Q16. (Tadawul) Savola: SAR33.58 as of 31 August 2016, Rating: Neutral, FV: SAR40.00 per share, MCap: USD4,782mn, SAVOLA AB / 2050.SE
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