Logo ofADNH Catering PLC
Abu Dhabi’s ADNH Catering PLC signed a sale and purchase agreement (SPA) with Compass Group International and Al-Rushaid Petroleum Investment Co. to buy an additional 20% stake in the Saudi joint venture (JV), Compass Arabia. 
In a statement, ADNH Catering said it will raise its stake in the JV from 30% to 50%, while Al-Rushaid Petroleum will retain a 50% holding.
The deal completion is subject to regulatory approvals. The name of the company will change once all the stake swap transactions are done.
ADNH Catering added that it expects to the deal closure in Q1 2025.
In addition to entering into the SPA, the company, through its subsidiary ADNH Compass, signed a shareholders’ partnership agreement with Al-Rushaid Petroleum. Through its subsidiary, the company will manage the JV in Saudi Arabia and oversee all its operations.
The financial position and operational results of the Saudi JV will be consolidated into the financial statements of ADNH Compass upon completion of the transaction.
The company noted that further updates regarding the transaction will be announced in due course, emphasizing its strategy to expand operations in the Kingdom, which it considers a priority market.
Compass Arabia was launched in 2012 and primarily focuses on providing food and support services.
Logo ofADNH Catering PLC
Abu Dhabi’s ADNH Catering PLC signed a sale and purchase agreement (SPA) with Compass Group International and Al-Rushaid Petroleum Investment Co. to buy an additional 20% stake in the Saudi joint venture (JV), Compass Arabia.
In a statement, ADNH Catering said it will raise its stake in the JV from 30% to 50%, while Al-Rushaid Petroleum will retain a 50% holding.
The deal completion is subject to regulatory approvals. The name of the company will change once all the stake swap transactions are done.
ADNH Catering added that it expects to the deal closure in Q1 2025.
In addition to entering into the SPA, the company, through its subsidiary ADNH Compass, signed a shareholders’ partnership agreement with Al-Rushaid Petroleum. Through its subsidiary, the company will manage the JV in Saudi Arabia and oversee all its operations.
The financial position and operational results of the Saudi JV will be consolidated into the financial statements of ADNH Compass upon completion of the transaction.
The company noted that further updates regarding the transaction will be announced in due course, emphasizing its strategy to expand operations in the Kingdom, which it considers a priority market.
Compass Arabia was launched in 2012 and primarily focuses on providing food and support services.
