ADM and Almarai among companies eyeing Saudi grains agency asset sale

Abu Dhabi/Dubai/Riyadh: A partnership of US agribusiness giant Archer Daniels Midland Co and Saudi foods group Almarai is among potential bidders for Saudi Grains Organisation’s milling operations, the kingdom’s sole supplier, sources said. Italian wheat supplier Casillo Group and a partnership of Turkey’s TAV Group, a construction and airports conglomerate, and Saudi Arabia’s Al Rajhi Holding Group, a real estate concern, are also considering bids, the sources said. The state-owned Saudi Grains Organisation (SAGO), which handles the kingdom’s grains purchases, is preparing to sell off its milling operations by placing them in four specially formed corporate entities while retaining other functions.