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Ades shares climb on rig deal
Shares of Adis Holding Company rose by 0.55% following the announcement of completing a acquisition deal worth 1.07 billion riyals for all shares of Saipem Saudi Arabia, which includes five different offshore drilling rigs, three of which are owned and two leased. The company expects that the acquisition will add approximately 3.8 billion riyals to the group's business volume, thereby strengthening future cash flows and revenues.
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