Riyadh - Mubasher: Alghaz Waltsnae Company Eligibility Alqabida, known as GASCO Holding, has finalized the acquisition of a 50% equity stake in Jaco Gases, a limited liability company, following the completion of all necessary regulatory procedures.
The transaction, valued at SAR 125 million, follows a capital increase at the target firm and marks a significant expansion of GASCO’s investment portfolio within the industrial gas sector. The company confirmed that the legal transfer of ownership was completed on 24 June 2026.
This finalization follows a series of regulatory milestones, most notably the receipt of a non-objection certificate from the General Authority for Competition (GAC) on 28 April.
The approval from the GAC was a prerequisite for the economic concentration resulting from the acquisition, ensuring that the merger of interests complies with the Kingdom’s competition laws and market regulations.
This valuation was determined based on the capital structure of Jaco Gases following a planned capital increase. With the completion of the statutory requirements and the formal transfer of shares, GASCO now holds an equal partnership in the capital of Jaco Gases.
The company had previously updated the market regarding this transaction through a disclosure on the Saudi Exchange (Tadawul) dated 29 April.
The latest announcement serves as the definitive confirmation that the deal has moved from the conditional agreement phase to full execution.
GASCO noted that there have been no changes to the costs associated with the event, maintaining the original financial parameters of the acquisition.
From a financial reporting perspective, the impact of this acquisition is expected to be reflected in GASCO’s consolidated financial statements starting from the third quarter (Q3) of 2026.
As a 50% shareholder, GASCO will likely account for its investment in Jaco Gases using the equity method, or according to the relevant International Financial Reporting Standards (IFRS) adopted in Saudi Arabia, depending on the level of control and influence established by the partnership agreement.
The move is consistent with GASCO’s broader corporate strategy to diversify its holdings and strengthen its position in the energy and industrial services value chain.
By integrating a substantial stake in Jaco Gases, GASCO aims to leverage synergies within the gas distribution and industrial gases market, potentially enhancing its long-term revenue streams and operational footprint.
