Riyadh – Mubasher: The Saudi Industrial Development Company (SIDC) signed a non-binding memorandum of understanding (MoU) on 8 August 2026 to study the potential acquisition of 100% of the share capital of Industrial Production Services Company.
The agreement was signed with Sudum Investment and Mohammed Al Ali Al Suwailem Holding, according to a bourse filing.
The target entity is an unlisted joint-stock company operating within the building and construction sector. The acquisition aligns with the strategic objective of SIDC to diversify revenue streams and reduce reliance on current activities by entering new investment sectors with growth potential.
The MOU is valid for a period of 90 days from the signing date and is subject to automatic renewal for similar periods unless terminated by either party.
The final acquisition value will be determined following the completion of financial evaluations, due diligence, and the receipt of necessary regulatory approvals.
SIDC noted a related party interest involving board member Ahmed bin Abdullah Al Muhsen, who also serves as managing director and CEO of Mohammed Al Ali Al Suwailem Trading and Contracting. There is no immediate financial impact resulting from the signing of this memorandum.
Last May, SIDC Ceramic Factory (CASAVIA) entered into a formal agreement with the National Housing Company (NHC).
