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Al-Rasheed cleared to buy 50% Taff Shipping
Al-Mohammed Hadi Al-Rashid & Partners Company announced that it has obtained a No Objection Letter from the General Authority for Competition to proceed with the acquisition of a 50% stake in Tef Shipping Company, with a total value of 92.5 million Riyals. The company confirmed that the procedures are progressing according to the scheduled timeline, and that it is in the process of fulfilling all statutory and contractual conditions necessary for the transfer of ownership, without any negative impact on the current financial statements. This acquisition reflects the company's strategic move to expand its share in the shipping sector, while committing to completing all official requirements to finalize the deal.
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