Riyadh – Mubasher: Saudi Automotive Services Co.'s (SASCO) board approved on Wednesday studying the options of selling some of its owned sites and re-leased by long-term contracts.
The company will communicate with a number of financial institutions and investment companies and study all offers made by them in accordance with the interests of the company and its goals, according to a bourse filing.
The company stated that it is difficult to determine the financial impact of this process at the moment, but the company expects it to have to achieve capital gains and lower depreciation expenses and a higher rate return on assets, on the other hand will be an increase in annual lease expenses, the statement said.
SASCO announced on 29 December 2016 completing selling all shares in two investment portfolios in the Saudi Stock Exchange (Tadawul).
The transactions were managed by Saudi Fransi Capital Company and Mulkia Investment Company.
