Riyadh, Oct 13 - Saudi-based Savola Group, the Middle East's top sugar refinery, said on Tuesday it has teamed up with Turkish partners to bid for six sugar plants being sold by the Turkish government.
Savola's food business unit Savola Foods has set up a joint-venture with farmers union Turkey Tarim Kredi and the local Nesma Holding Company, Savola said in a statement posted on the Saudi bourse's website.
Savola Foods, 90-percent owned by Savola, and Turkey Tarim Kredi will hold 40 percent each of the transaction while Nesma will hold 20 percent, it added.