The deal will support Tasnee’s strategic focus on the petrochemicals sector and strengthen its financial position.
National Industrialization Co. (Tasnee)completed on Aug. 31 the sale of its entire equity stake in Al-Rowad Industrial Transformation Co. to Tahweel Holding. 
The sale was complete after the transfer of full ownership Tasnee stake to Tahweel Holding, as regulatory approvals were secured and all conditions under the agreement satisfied, the Saudi-listed firm said in a statement to Tadawul.
The transaction’s enterprise value, as previously announced, amounted to SAR 700 million, while the final total consideration reached SAR 683.979 million after applying the final cash consideration adjustment mechanism at closing.
The transaction will support Tasnee’s strategic focus on the petrochemicals sector and strengthen its financial position by improving capital allocation and reducing debt. It will also help streamline the company’s organizational structure and improve overall operating efficiency.
In July, the General Authority for Competition (GAC) had issued a no-objection to the economic concentration process related to Tahweel Holding’s acquisition of the entire equity stake in Al-Rowad Industrial, Argaam reported.
Earlier in March, Tasnee had announced that it signed an agreement to sell its entire stake in Al-Rowad Industrial to Tahweel Holding for SAR 700 million.
Al-Rowad Industrial comprises a group of companies, including Al-Rowad Global Packaging Company Ltd., Taldeen Plastic Solutions, Al-Rowad National Plastic Company Ltd., Al-Rowad International Industrial Films Company Ltd. and Al-Rowad United Marketing.
The deal will support Tasnee’s strategic focus on the petrochemicals sector and strengthen its financial position.
National Industrialization Co. (Tasnee)completed on Aug. 31 the sale of its entire equity stake in Al-Rowad Industrial Transformation Co. to Tahweel Holding.
The sale was complete after the transfer of full ownership Tasnee stake to Tahweel Holding, as regulatory approvals were secured and all conditions under the agreement satisfied, the Saudi-listed firm said in a statement to Tadawul.
The transaction’s enterprise value, as previously announced, amounted to SAR 700 million, while the final total consideration reached SAR 683.979 million after applying the final cash consideration adjustment mechanism at closing.
The transaction will support Tasnee’s strategic focus on the petrochemicals sector and strengthen its financial position by improving capital allocation and reducing debt. It will also help streamline the company’s organizational structure and improve overall operating efficiency.
In July, the General Authority for Competition (GAC) had issued a no-objection to the economic concentration process related to Tahweel Holding’s acquisition of the entire equity stake in Al-Rowad Industrial, Argaam reported.
Earlier in March, Tasnee had announced that it signed an agreement to sell its entire stake in Al-Rowad Industrial to Tahweel Holding for SAR 700 million.
Al-Rowad Industrial comprises a group of companies, including Al-Rowad Global Packaging Company Ltd., Taldeen Plastic Solutions, Al-Rowad National Plastic Company Ltd., Al-Rowad International Industrial Films Company Ltd. and Al-Rowad United Marketing.
