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Mihaanah to acquire Shas for up to 102.7M Riyals
Our Water Company has signed an agreement to purchase all shares of Shas Water Services Limited for an amount ranging between 95.01 million and 102.71 million Riyals, with the goal of expanding its water distribution activities in Riyadh and strengthening its presence in the industrial sector. The completion of the deal is contingent upon approval from the General Authority for Competition. This move is part of its strategy to achieve growth and operational integration. Shas was established in 1998 and operates water facilities and distribution services in Riyadh. Its revenue reached approximately 46.5 million Riyals in 2023, and the transaction is expected to improve the company's financial performance and operational efficiency.
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