Logo ofSaudi Automotive Services Co. (SASCO)
Saudi Automotive Services Co. (SASCO) announced that after completing due diligence (financial and legal) and receiving preliminary approval to upgrade Tadbeer Recruitment Co. from Category (B) to Category (A), its subsidiary, Investments and Equipment Co., signed the acquisition agreement on January 19, 2025. 
For more news and details on MAs
The agreement stipulates that Automotive and Equipment will acquire 70% of Tadbeer’s capital for SAR 85 million, raising Tadbeer’s capital from SAR 20 million to SAR 100 million.
The acquisition is contingent on final approval and the upgrade to Category (A) within four months of the capital increase payment.
The SAR 85 million acquisition will be financed through the company’s existing credit facilities. SASCO will announce any further developments in due course.
SASCO previously announced in November that its subsidiary and Tadbeer agreed to extend their MoU for an additional three months from its expiry.
In August, Investments and Equipment signed an MoU to acquire 70% of Tadbeer Recruitment’s capital for SAR 85 million, conditional on converting the company from Class B to Class A and raising the capital to SAR 100 million from SAR 20 million, according to Argaam’s data.
Logo ofSaudi Automotive Services Co. (SASCO)
Saudi Automotive Services Co. (SASCO) announced that after completing due diligence (financial and legal) and receiving preliminary approval to upgrade Tadbeer Recruitment Co. from Category (B) to Category (A), its subsidiary, Investments and Equipment Co., signed the acquisition agreement on January 19, 2025.
For more news and details on MAs
The agreement stipulates that Automotive and Equipment will acquire 70% of Tadbeer’s capital for SAR 85 million, raising Tadbeer’s capital from SAR 20 million to SAR 100 million.
The acquisition is contingent on final approval and the upgrade to Category (A) within four months of the capital increase payment.
The SAR 85 million acquisition will be financed through the company’s existing credit facilities. SASCO will announce any further developments in due course.
SASCO previously announced in November that its subsidiary and Tadbeer agreed to extend their MoU for an additional three months from its expiry.
In August, Investments and Equipment signed an MoU to acquire 70% of Tadbeer Recruitment’s capital for SAR 85 million, conditional on converting the company from Class B to Class A and raising the capital to SAR 100 million from SAR 20 million, according to Argaam’s data.
