Medina, Saudi Arabia, June 27 2024: Bin Dawood, BinDawood Stores is a supermarket and hypermarket chain in Saudi Arabia, operates 27 hypermarkets and supermarkets in the Kingdom in major cities. Image used for illustrative purpose. Image courtesy: Getty Images/ Tamer Soliman
The facility was obtained from Banque Saudi Fransi and Gulf International Bank
Staff Writer
,
ZAWYA
BinDawood Holding Company has secured Shariah-compliant funding from two GCC banks to complete the purchase of dairy production operations assets of AS E-Piim Tootmine in Estonia.
The funding worth 542 million Saudi riyals ($144.21 million) was obtained from Banque Saudi Fransi and Gulf International Bank, the company said in a statement to the Saudi stock exchange.
BinDawood Holding’s wholly owned subsidiary, JUUST & JUBN OÜ, will purchase the assets in Estonia after winning the bid earlier this month.
The financing has a three- to five-year duration, with no bank guarantee, the statement added.
(Editing by Seban Scaria seban.scaria@lseg.com
)
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