One of the city’s cement production lines
In a statement to Tadawul, the company said the disapproval was due to a violation of the Capital Market Law and its implementing regulations, specifically related to governance requirements, which necessitate the completion of certain regulatory prerequisites. 
City Cement affirmed that it will reevaluate the offer following the fulfillment of all necessary regulatory requirements.
For more news and details on MAs
According to Argaam data, City Cement announced last February plans to submit an offer to acquire all UACC shares through a share swap offer.
The following table indicates details of the acquisition:
Key Acquisition Terms
Acquisition Method
City Cement to acquire all UACC shares
Compensation Method
Issuance of new shares to UACC shareholders
Swap Ratio
1.11 new City Cement shares for each UACC share
New Entity Name
City Cement
Post-Acquisition Status of UACC
Delisting from Tadawul to become a wholly owned subsidiary of City Cement
City Cement Capital Pre-Acquisition
SAR 1.4 bln
Capital Increase Amount
SAR 611.64 mln
No. of New Shares Issued
61.16 mln
City Cement Capital Post-Acquisition
SAR 2.01 bln
Capital Increase Percentage
43.69%
UACC Share Price (Based on Swap Ratio)
SAR 20.06
City Cement Share Price for Deal Purposes
SAR 18.04
Total UACC Value for Transaction Purposes
SAR 1.10 bln
Ownership of UACC Post-Acquisition
30.40% of the merged entity
Ownership of City Cement Shareholders Post-Acquisition
69.60% of the merged entity
One of the city’s cement production lines
In a statement to Tadawul, the company said the disapproval was due to a violation of the Capital Market Law and its implementing regulations, specifically related to governance requirements, which necessitate the completion of certain regulatory prerequisites.
City Cement affirmed that it will reevaluate the offer following the fulfillment of all necessary regulatory requirements.
For more news and details on MAs
According to Argaam data, City Cement announced last February plans to submit an offer to acquire all UACC shares through a share swap offer.
The following table indicates details of the acquisition:
Key Acquisition Terms
Acquisition Method
City Cement to acquire all UACC shares
Compensation Method
Issuance of new shares to UACC shareholders
Swap Ratio
1.11 new City Cement shares for each UACC share
New Entity Name
City Cement
Post-Acquisition Status of UACC
Delisting from Tadawul to become a wholly owned subsidiary of City Cement
City Cement Capital Pre-Acquisition
SAR 1.4 bln
Capital Increase Amount
SAR 611.64 mln
No. of New Shares Issued
61.16 mln
City Cement Capital Post-Acquisition
SAR 2.01 bln
Capital Increase Percentage
43.69%
UACC Share Price (Based on Swap Ratio)
SAR 20.06
City Cement Share Price for Deal Purposes
SAR 18.04
Total UACC Value for Transaction Purposes
SAR 1.10 bln
Ownership of UACC Post-Acquisition
30.40% of the merged entity
Ownership of City Cement Shareholders Post-Acquisition
69.60% of the merged entity
