Logo ofMethanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) announced today, March 11, that the Commercial Court in Dammam issued a preliminary ruling ordering it to pay SAR 15.39 million to the former shareholders of ADDAR Chemicals Co. (ACC). 
In a statement to Tadawul, the company announced its intention, through a specialized law firm, to file an appeal against the issued judgment and take all necessary legal actions.
On Dec. 7, 2025, Chemanol said ACC former shareholders filed commercial lawsuits with the Commercial Court in Dammam against the company regarding the acquisition of ADDAR, according to Argaam’s data.
In one of these lawsuits, ACC’s former owners were seeking SAR 15.4 million, which they claim to have paid toward one of the bank facilities and operating expenses for ADDAR until November 2023.
Moreover, Chemanol signed a share purchase agreement (SPA) in November 2023 to buy ADDAR for SAR 46.2 million. The amount was to be paid partially and in stages based on conditions set out in the SPA.
In February 2024, Chemanol said it completed all regulatory procedures related to the ownership transfer, obtaining approvals from relevant authorities.
Logo ofMethanol Chemicals Co. (Chemanol)
Methanol Chemicals Co. (Chemanol) announced today, March 11, that the Commercial Court in Dammam issued a preliminary ruling ordering it to pay SAR 15.39 million to the former shareholders of ADDAR Chemicals Co. (ACC).
In a statement to Tadawul, the company announced its intention, through a specialized law firm, to file an appeal against the issued judgment and take all necessary legal actions.
On Dec. 7, 2025, Chemanol said ACC former shareholders filed commercial lawsuits with the Commercial Court in Dammam against the company regarding the acquisition of ADDAR, according to Argaam’s data.
In one of these lawsuits, ACC’s former owners were seeking SAR 15.4 million, which they claim to have paid toward one of the bank facilities and operating expenses for ADDAR until November 2023.
Moreover, Chemanol signed a share purchase agreement (SPA) in November 2023 to buy ADDAR for SAR 46.2 million. The amount was to be paid partially and in stages based on conditions set out in the SPA.
In February 2024, Chemanol said it completed all regulatory procedures related to the ownership transfer, obtaining approvals from relevant authorities.
