PIF signs SPA to sell 10.92% stake in GASCO to Jadwa Investment for SAR 491.2 mln

03/09/2023 Argaam

PIF signs SPA to sell 10.92% stake in GASCO to Jadwa Investment for SAR 491.2 mln

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) signed a binding share sale and purchase agreement (SPA) with Jadwa Investment Co. today, Sept. 3, GIB Capital, in its capacity as financial advisor to the PIF, said in a statement to Tadawul. 

 

Jadwa Investment is acting in its capacity as a manager buying the stake for its managed investment funds and its clients’ portfolios.

 

Under the agreement, PIF sold its 10.92% stake, or 8,186,455 shares, in National Gas and Industrialization Co. (GASCO) to Jadwa Investment through a private transaction for SAR 491.19 million.

 

The transaction will be executed as a negotiated deal in accordance with the Saudi Exchange’s (Tadawul) Trading and Membership Procedures today.

 

The deal completion is subject to a number of conditions. The sale will be completed by Tuesday, Sept. 5.

 

For More Mergers and Acquisitions

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read