16 Hrs
Source:
الاقتصادية
Kanauff International Offers to Acquire United Mining
Kanoo International has launched a takeover bid to acquire the entire shares of United Mining Industries Company at a price of 57 riyals per share, totaling approximately 293.5 million riyals. This is the same price previously paid for a 63.2% stake in the company. The offer aims to complete the acquisition and delist the company's shares from the Saudi market, with secured financing from BNP Paribas Bank. It is expected that Kanoo will continue to operate the company normally after the acquisition, enhancing its operational capabilities, leveraging its presence in the local and regional markets, and supporting localization efforts and the development of the construction sector in Saudi Arabia.
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