Logo ofGhida Alsultan for Fast Food Co.
Ghida Alsultan For Fast Food Co. disclosed, on Feb. 12, the parties to the transaction to acquire 100% of Simple Burger Establishment for Meal Services. 
In a statement to Tdawul, the company said that the buyer is Ghida Alsultan, while the seller is Yousef Aref Al-Mesbahi, owner of Simple Burger Establishment for Meal Services, Commercial Registration No. (4030450877).
With respect to the details of the acquisition agreement, the company clarified that the following has been agreed:
1- The Seller will fully cooperate with the company in operations and support for a period of three years from the date of acquisition in order to achieve targeted sales objectives.
2. Transfer of assets, trade name, rights, and obligations from the Seller to the company (the Buyer).
3. A phased payment mechanism linked to financial performance following the acquisition.
4. The transaction value will be paid in three installments, with a portion of the total consideration subject to conditions related to achieving specific sales and profitability levels compared to previous years.
5. A portion of the purchase price is contingent upon achieving agreed financial indicators, most notably: achieving a minimum net profit-to-sales ratio during a specified fiscal year, and achieving a minimum annual net profit.
6. The Seller has acknowledged full disclosure of all financial and legal obligations, as well as any existing or potential claims.
7. The Seller will remain liable for any obligations or disputes not disclosed and arising prior to the completion date of the sale, even if such matters appear subsequently.
According to Argaam’s data, Ghida Alsultan signed, on Feb. 9, an agreement to acquire 100% of Simple Burger Establishment, for SAR 23.8 million.
Logo ofGhida Alsultan for Fast Food Co.
Ghida Alsultan For Fast Food Co. disclosed, on Feb. 12, the parties to the transaction to acquire 100% of Simple Burger Establishment for Meal Services.
In a statement to Tdawul, the company said that the buyer is Ghida Alsultan, while the seller is Yousef Aref Al-Mesbahi, owner of Simple Burger Establishment for Meal Services, Commercial Registration No. (4030450877).
With respect to the details of the acquisition agreement, the company clarified that the following has been agreed:
1- The Seller will fully cooperate with the company in operations and support for a period of three years from the date of acquisition in order to achieve targeted sales objectives.
2. Transfer of assets, trade name, rights, and obligations from the Seller to the company (the Buyer).
3. A phased payment mechanism linked to financial performance following the acquisition.
4. The transaction value will be paid in three installments, with a portion of the total consideration subject to conditions related to achieving specific sales and profitability levels compared to previous years.
5. A portion of the purchase price is contingent upon achieving agreed financial indicators, most notably: achieving a minimum net profit-to-sales ratio during a specified fiscal year, and achieving a minimum annual net profit.
6. The Seller has acknowledged full disclosure of all financial and legal obligations, as well as any existing or potential claims.
7. The Seller will remain liable for any obligations or disputes not disclosed and arising prior to the completion date of the sale, even if such matters appear subsequently.
According to Argaam’s data, Ghida Alsultan signed, on Feb. 9, an agreement to acquire 100% of Simple Burger Establishment, for SAR 23.8 million.
