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Adès's stake grows after rig deal
Shares of Addis Holding Company rose by 0.55% after announcing a takeover deal worth 1.07 billion riyals for the entire shares of Cybem Saudi Arabia. The deal includes five offshore drilling rigs, four of which operate in Saudi Arabia and one in Mexico. The transaction is expected to increase the company's business volume by approximately 3.8 billion riyals and support future revenue streams in the coming years.
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