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Al-Rasheed Gains Approval for 50% TEEFF Acquisition
Al-Mohamed Hadi Al-Rashid & Partners Company announced that it has obtained a No Objection Letter from the Competition Authority to complete its acquisition of a 50% stake in TAYF Shipping Company, valued at a total of 92.5 million riyals. The letter was issued on September 6, 2026, as part of the legal requirements for the economic concentration process related to the transaction, which was announced in July 2026. The company indicates that the value of the deal has not changed and that procedures are proceeding according to the planned schedule, with efforts underway to complete the remaining steps and ensure that ownership records are updated to reflect the company's new structure.
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