Egyptian Belgian Company for Industrial Investments

Savola to invest EGP 1 bn in Egyptian Belgian Company

Saudi food conglomerate Savola plans to invest over EGP 1 bn in the Egyptian Belgian Company to increase production, CEO Sameh Hassan told CNBC Arabia (watch, runtime: 3:06). The company acquired the maker of Ole-branded baked goods for EGP 622.4 mn in June. Savola has hiked prices aggressively since taking over: Savola has raised prices…