Logo of Arabian Contracting Services Co. (Al Arabia)
Arabian Contracting Services Co.’s (Al Arabia) shareholders approved on March 28, a request to arrange a bank credit facility at SAR 1.05 billion to finalize the takeover of Faden Media, according to a statement to Tadawul.
The acquisition is subject to the approval of the General Authority for Competition (GAC), the statement added.
Al Arabia board of directors approved in October, 2022, a purchase agreement to fully acquire Faden Media, for SAR 1.05 billion, according to data available with Argaam.
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Deal Details |
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Transaction |
Acquisition of Faden Media |
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Target Stake |
100% |
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Value |
SAR 1.05 bln |
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Parties |
Al Arabia (buyer) and Prince Abdulaziz bin Mashhor Al Saud, owner of Faden Media (seller) |
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Finance |
Bank loans and the company's own resources |
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Faden Media Financials |
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
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2019 |
95.69 |
43.47 |
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2020 |
85.68 |
28.43 |
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2021 |
144.61 |
85.91 |
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Q1 2022 |
39.10 |
11.10 |
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