Logo ofRiyadh Cables Group Co.
Riyadh Cables Group Co. entered on Oct. 27, into a Share Purchase Agreement (SPA) with the owners of Artikul Aziya Kabel LLC in Uzbekistan, through its wholly owned subsidiary Riyadh Cables Co., to acquire 51% of the shares of Artikul Aziya for a consideration of SAR 147.7 million. 
In a statement to Tadawul, the company said that the sellers are Mirzabotir Komilov and Mirzabaxodir Kamilov.
The SPA is subject to the fulfillment of a set of conditions precedent, including obtaining the approvals of the Competition Promotion and Consumer Protection committee of the Republic of Uzbekistan for the merger and transfer of ownership, as well as completing the legal requirements of the sellers and securing the regulatory consents from the current financing institutions of Artikul Aziya Kabel LLC.
The transaction is to be funded through the company’s internal resources and existing facilities, the statement added.
Artikul Aziya Kabel LLC was established in 2013 in Uzbekistan and is considered one of the leading manufacturers in Uzbekistan, specializing in the production of power cables, electrical wires, solar energy cables, and cabling systems, Riyadh Cables stated.
The following table illustrates Artikul Aziya Kabel’s revenue for the last three years:
Artikul Aziya Kabel’s Revenue (SAR mln)
Year
Revenue
2022
238.07
2023
289.17
2024
406.78
The transaction falls within Riyadh Cables Group’s international expansion strategy, aimed at strengthening its presence in Central Asian markets and establishing a regional manufacturing and export platform in Uzbekistan.
It also seeks to diversify Riyadh Cables Group revenue sources via leveraging Uzbekistan’s distinguished resources, technology, expertise, and operational synergy thereby enhancing the group’s competitiveness in regional and global markets.
The transaction is expected to expand Riyadh Cables Group’s international operations establishing a regional manufacturing hub serving Asian and European markets, enhancing industrial integration and operational efficiency, with positive impact on the company’s financial position
No related parties are included in the deal, the statement noted, indicating that the transaction advisor is PricewaterhouseCoopers (PwC).
Logo ofRiyadh Cables Group Co.
Riyadh Cables Group Co. entered on Oct. 27, into a Share Purchase Agreement (SPA) with the owners of Artikul Aziya Kabel LLC in Uzbekistan, through its wholly owned subsidiary Riyadh Cables Co., to acquire 51% of the shares of Artikul Aziya for a consideration of SAR 147.7 million.
In a statement to Tadawul, the company said that the sellers are Mirzabotir Komilov and Mirzabaxodir Kamilov.
The SPA is subject to the fulfillment of a set of conditions precedent, including obtaining the approvals of the Competition Promotion and Consumer Protection committee of the Republic of Uzbekistan for the merger and transfer of ownership, as well as completing the legal requirements of the sellers and securing the regulatory consents from the current financing institutions of Artikul Aziya Kabel LLC.
The transaction is to be funded through the company’s internal resources and existing facilities, the statement added.
Artikul Aziya Kabel LLC was established in 2013 in Uzbekistan and is considered one of the leading manufacturers in Uzbekistan, specializing in the production of power cables, electrical wires, solar energy cables, and cabling systems, Riyadh Cables stated.
The following table illustrates Artikul Aziya Kabel’s revenue for the last three years:
Artikul Aziya Kabel’s Revenue (SAR mln)
Year
Revenue
2022
238.07
2023
289.17
2024
406.78
The transaction falls within Riyadh Cables Group’s international expansion strategy, aimed at strengthening its presence in Central Asian markets and establishing a regional manufacturing and export platform in Uzbekistan.
It also seeks to diversify Riyadh Cables Group revenue sources via leveraging Uzbekistan’s distinguished resources, technology, expertise, and operational synergy thereby enhancing the group’s competitiveness in regional and global markets.
The transaction is expected to expand Riyadh Cables Group’s international operations establishing a regional manufacturing hub serving Asian and European markets, enhancing industrial integration and operational efficiency, with positive impact on the company’s financial position
No related parties are included in the deal, the statement noted, indicating that the transaction advisor is PricewaterhouseCoopers (PwC).
