Riyadh – Mubasher: Arab Media signed an agreement with Argaam Investment Co. (Argaam) to acquire a 51% stake of the firm at a value of SAR 37.5 million.
Arab Media, is a wholly owned subsidiary of Saudi Research and Marketing Group.
The contract’s value will be paid in cash, and it will be self-financed through the group’s sources.
The transfer of ownership will be implemented on 24 October, including the approval of the Saudi Ministry of Commerce and Investment.
The group aims through this acquisition to enhance its portfolio of domestic and international brands which will improve its financial position.
