Logo ofObeikan Glass Co.
Obeikan Glass Co. signed an agreement on Aug. 31, to acquire all partner stakes in Obeikan AGC Co., a joint venture (JV) where it held 19%, making it a wholly owned subsidiary. 
For more news and details on MAs
The deal covers 50% from AGC France Holding (3,500 shares) for SAR 8.76 million, 18.6% from Obeikan Investment Group (1,302 shares) for SAR 5.26 million, and 12.4% from Advanced Petrochemical Industries (868 shares) for SAR 3.51 million.
Terms require settlement of dues, confirmation of payments, board resignations from seller representatives, adoption of amended bylaws, and termination of the JV agreement with AGC France.
The parties will sign cooperation, licensing, and technical assistance agreements, terminate coating supply and project management contracts, and the buyer will implement a capital increase, appoint new directors, and update the commercial register.
Obeikan Glass said the acquisition will be funded through existing cash, with the financial impact expected from Q4 2025, pending contractual conditions and regulatory approvals in Saudi Arabia.
The move gives Obeikan Glass full ownership of Obeikan AGC, founded in 2016 in Yanbu, with output capacity of 5 million square meters of high-performance coated glass.
The company said full ownership enhances control, integration, and long-term growth. Related parties include Abdullah Al-Obeikan (CEO of Obeikan Investment Group, Chairman of Obeikan AGC), Omran Al-Obeikan (board member at Obeikan AGC), Abdullah Al-Humaidhi (Chairman of Saudi Advanced Industries Co. (SAIC)), and Abdulrahman Al-Obaid (board member at SAIC).
According to the statement, Obeikan AGC was established in 2016 as a mixed limited liability company based in Yanbu Industrial City.
The plant has an annual production capacity of 5 million square meters and manufactures coated glass, a multilayer insulated product created by spraying chemical compounds in thin layers ranging from 100 to 1,000 nanometers, resulting in coatings of different types and thicknesses.
Obeikan AGC 3-Year Financials (SAR mln)
Item
2022
2023
2024
Revenue
110.34
120.61
124.93
Capital
70.00
70.00
70.00
Total Equity
(73.61)
(90.47)
(90.71)
Net Profit / (Loss)
(32.79)
(16.40)
(0.24)
Logo ofObeikan Glass Co.
Obeikan Glass Co. signed an agreement on Aug. 31, to acquire all partner stakes in Obeikan AGC Co., a joint venture (JV) where it held 19%, making it a wholly owned subsidiary.
For more news and details on MAs
The deal covers 50% from AGC France Holding (3,500 shares) for SAR 8.76 million, 18.6% from Obeikan Investment Group (1,302 shares) for SAR 5.26 million, and 12.4% from Advanced Petrochemical Industries (868 shares) for SAR 3.51 million.
Terms require settlement of dues, confirmation of payments, board resignations from seller representatives, adoption of amended bylaws, and termination of the JV agreement with AGC France.
The parties will sign cooperation, licensing, and technical assistance agreements, terminate coating supply and project management contracts, and the buyer will implement a capital increase, appoint new directors, and update the commercial register.
Obeikan Glass said the acquisition will be funded through existing cash, with the financial impact expected from Q4 2025, pending contractual conditions and regulatory approvals in Saudi Arabia.
The move gives Obeikan Glass full ownership of Obeikan AGC, founded in 2016 in Yanbu, with output capacity of 5 million square meters of high-performance coated glass.
The company said full ownership enhances control, integration, and long-term growth. Related parties include Abdullah Al-Obeikan (CEO of Obeikan Investment Group, Chairman of Obeikan AGC), Omran Al-Obeikan (board member at Obeikan AGC), Abdullah Al-Humaidhi (Chairman of Saudi Advanced Industries Co. (SAIC)), and Abdulrahman Al-Obaid (board member at SAIC).
According to the statement, Obeikan AGC was established in 2016 as a mixed limited liability company based in Yanbu Industrial City.
The plant has an annual production capacity of 5 million square meters and manufactures coated glass, a multilayer insulated product created by spraying chemical compounds in thin layers ranging from 100 to 1,000 nanometers, resulting in coatings of different types and thicknesses.
Obeikan AGC 3-Year Financials (SAR mln)
Item
2022
2023
2024
Revenue
110.34
120.61
124.93
Capital
70.00
70.00
70.00
Total Equity
(73.61)
(90.47)
(90.71)
Net Profit / (Loss)
(32.79)
(16.40)
(0.24)
