Riyadh — Mubasher: Taiba Investments Company announced the commencement of voluntary liquidation procedures for Nuzul Shada Hotel Company in which Dur Hospitality holds 60% equity, according to a bourse filing.
Nuzul Shada Hotel has a share capital standing at SAR 40 million, while Dur Hospitality is a wholly owned subsidiary of the listed Taiba Investments.
The decision follows a periodic review of its investment portfolio and aligns with Taiba Investments’ current strategic direction.
The listed company does not anticipate a material financial impact on its consolidated financial statements resulting from this liquidation.
Any financial effects that may arise will be reflected in the company's accounts upon the completion of the liquidation process.
Meanwhile, the liquidation marks a further consolidation of assets following the full acquisition of Dur Hospitality by Taiba Investments.
