SGS shareholders approve SAR 1.5B deals, related-party contracts

19/06/2025 Argaam
SGS equipment

SGS equipment

Saudi Ground Services Co.'s (SGS) shareholder approved a number of transactions and contracts worth nearly SAR 1.5 billion with related parties during 2024 during the ordinary general meeting (OGM) held on June 18.

 

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The agreements include deals with Saudia (SAR 1.11 billion), Saudi Aerospace Engineering Industries (SAR 22.4 million), Saudia Private Aviation (SAR 13.3 million), Royal Fleet Services (SAR 31.49 million), flyadeal (SAR 245.6 million), SAL Saudi Logistics Services (SAR 18.2 million), and CATRION Catering Holding Co. (CATRION) (SAR 61.7 million).

 

The transactions and contracts involve the provision of ground-handling services at airports across the Kingdom.

 

Board members Nasser Al-Qawas and Fahd Cynndy have an indirect interest in all these contracts.

 

SGS confirmed that all transactions were conducted on commercial terms without any preferential treatment.

 

The OGM approved all other items on the agenda, the statement said.

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