April 8, 2018 / 5:31 AM / 3 months ago

BRIEF-Al Anwar Holdings To Divest Entire Stake In National Biscuits

April 8 (Reuters) - AL ANWAR HOLDINGS:

* IN PROCESS OF ENTERING INTO BINDING SHARE PURCHASE AND SALE AGREEMENT WITH POTENTIAL BUYER FOR SALE OF 28.92 PERCENT STAKE IN NATIONAL BISCUITS INDUSTRIES

* SHARE PURCHASE AND SALE AGREEMENT IS FOR TOTAL CASH CONSIDERATION OF 1.63 MILLION RIALS

* SALE PROCEEDS FROM TRANSACTION WILL BE UTILIZED TOWARDS PARTIAL DEBT REPAYMENT AND MAKING OPPORTUNE INVESTMENTS

* TRANSACTION WILL HAVE POSITIVE IMPACT ON CO'S PROFIT AND LOSS ACCOUNT FOR FY2018-19 OF ABOUT 144,000 RIALS Source: (bit.ly/2Ju36bI) Further company coverage:

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