Savola Group Company (SASE:2050) is reviewing strategic options for a possible sale of its 35% stake in Almarai Company (SASE:2280), the Middle East's largest dairy group, estimated to be worth $5.3 billion (?5 billion), media sources reported. Almarai specializes in food and beverage manufacturing and distribution. It was set up in the 1970s as a dairy company.

Since then, it has branched out into other areas such as bakery products and poultry. A key investor in the food and retail sectors, Savola also has interests in venture capital and private equities. Savola has mandated New York -boutique investment banking firm, Moelis & Co, to advise on the sale of the stake.