Raoom signs MoU to acquire 51% stake in Mohrkey Trading

Raoom says the potential acquisition of Mohrkey depends on valuation and due diligence, besides obtaining the related regulatory nods

Raoom Trading Co. signed a preliminary and non-binding memorandum of understanding (MoU) to acquire a 51% stake in Mohrkey Trading Co., a Saudi-based firm specializing in modern car care and fuel services.

In a statement to Tadawul today, Sept. 9, Raoom said the acquisition proceeds will be injected into Mohrkey to support its operations and future expansion plans.

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However, a final decision will depend on Mohrkey’s valuation, completion of due diligence, and regulatory approvals.

The MoU outlines provisions for the exchange of confidential information between the two parties for evaluation purposes. Completion of the potential acquisition remains subject to a final binding agreement on the definitive terms and conditions, not to mention securing the required approvals.

Valid for 60 days from signing, the MoU may be extended by mutual written agreement. Raoom confirmed the potential acquisition will have no immediate financial impact and does not constitute a commitment to its implementation. It also includes incentive clauses for Mohrkey’s current owners, tied to achieving specific future targets.

Mohrkey operates a growing network of more than 35 centers under its own brands and in partnership with leading international ones.

It currently manages over 14 centers under the Valvoline Express Care brand, with plans to expand to more than 60 centers across the Kingdom by year-end, in line with strong growth in the automotive services sector.

Through its operational arm, Mohrkey Fuel Stations Co., the firm also manages fuel stations and supermarkets under franchise agreements with major global brands. Its strategy aims to strengthen market presence and double market share by offering innovative solutions and integrated customer experiences.

Raoom said the move represents a new step toward building an integrated ecosystem in automotive services, energy, and real estate development for fuel stations and service centers, reflecting its commitment to seizing growth opportunities Kingdom-wide.

It vowed to duly announce any material updates on the deal — which involved no related parties.