Savola Says Exploring Options for $5.3 Billion Almarai Stake (1)

Almarai Co.’s top investor confirmed that it’s exploring options for its $5.3 billion holding in the Middle East’s largest dairy firm, in what could be one of the region’s biggest merger and acquisition deals.

Saudi Arabian food-processor Savola Group said it’s working with Moelis & Co. to review strategic options for its 35% stake in Riyadh-based Almarai, confirming a Bloomberg report.

“While no decisions have been made at this stage in relation to the potential sale of a portion of its stake” in Almarai, “this is one of such options under consideration,” the company said in a stock ...