Al Rasheed said the acquisition will be financed through internal resources and available financing facilities.
Mohammed Hadi Al Rasheed and Partners Co. (Al Rasheed) announced the signing of a share sale and purchase agreement to acquire a 50% stake in Taif Shipping Co. for SAR 92.5 million. 
The company said in a Tadawul statement that the acquisition will be financed through internal resources and available financing facilities, adding that the transaction is expected to support its strategy of securing its supply chain.
The agreement includes the customary terms, conditions and warranties provided by each party, the statement added, noting that completion of the transaction remains subject to the fulfillment of the agreed conditions and warranties, as well as obtaining the required regulatory approvals.
The company indicated that the sellers are Jana Abu Khamsin and Mohammed Abu Khamsin. Taif Shipping was established in 2018 and is headquartered in Al Khobar in the Eastern Province. It provides services related to oil and natural gas extraction, as well as the transportation and blending of silica sand and chemicals used in conventional and unconventional oil and gas extraction.
Al Rasheed said the acquisition is in line with its strategy of integrating across the value chain, building on its core business of industrial silica sand mining and processing through the acquisition of a stake in Taif Shipping, which operates in oilfield services and the transportation and blending of silica sand and chemicals used in the sector.
The company expects the transaction to generate operational synergies between the two businesses, expand marketing channels for its silica products, and support future growth opportunities. It also expects the deal to have a positive impact on its financial results and financial position over the medium and long term.
The company noted that signing the agreement does not constitute completion of the acquisition, as the transaction remains subject to approval from the General Authority for Competition (GAC), other relevant regulatory approvals, and the satisfaction of agreed closing conditions.
There are no related parties involved and any material developments or the completion of the transaction will be announced in due course, the statement further indicated.
Taif Shipping generated revenue of SAR 116.51 million in 2025.
Taif Shipping Revenue (SAR mln)
Year
Revenue
2023
91.10
2024
161.69
2025
116.51
Al Rasheed said the acquisition will be financed through internal resources and available financing facilities.
Mohammed Hadi Al Rasheed and Partners Co. (Al Rasheed) announced the signing of a share sale and purchase agreement to acquire a 50% stake in Taif Shipping Co. for SAR 92.5 million.
The company said in a Tadawul statement that the acquisition will be financed through internal resources and available financing facilities, adding that the transaction is expected to support its strategy of securing its supply chain.
The agreement includes the customary terms, conditions and warranties provided by each party, the statement added, noting that completion of the transaction remains subject to the fulfillment of the agreed conditions and warranties, as well as obtaining the required regulatory approvals.
The company indicated that the sellers are Jana Abu Khamsin and Mohammed Abu Khamsin. Taif Shipping was established in 2018 and is headquartered in Al Khobar in the Eastern Province. It provides services related to oil and natural gas extraction, as well as the transportation and blending of silica sand and chemicals used in conventional and unconventional oil and gas extraction.
Al Rasheed said the acquisition is in line with its strategy of integrating across the value chain, building on its core business of industrial silica sand mining and processing through the acquisition of a stake in Taif Shipping, which operates in oilfield services and the transportation and blending of silica sand and chemicals used in the sector.
The company expects the transaction to generate operational synergies between the two businesses, expand marketing channels for its silica products, and support future growth opportunities. It also expects the deal to have a positive impact on its financial results and financial position over the medium and long term.
The company noted that signing the agreement does not constitute completion of the acquisition, as the transaction remains subject to approval from the General Authority for Competition (GAC), other relevant regulatory approvals, and the satisfaction of agreed closing conditions.
There are no related parties involved and any material developments or the completion of the transaction will be announced in due course, the statement further indicated.
Taif Shipping generated revenue of SAR 116.51 million in 2025.
Taif Shipping Revenue (SAR mln)
Year
Revenue
2023
91.10
2024
161.69
2025
116.51
