Al Kuzama: 35% acquisition of Raed Food made via founding partners

09:37 AM (Mecca time) Argaam- Nomu
Logo ofAl Kuzama Trading Co.

Logo of Al Kuzama Trading Co.

Al Kuzama Trading Co. stated that its 35% acquisition of Raed Food Co. Ltd was carried out through the founding partners as the sellers.

 

In a Tadawul statement, the company said the founding partners are Fahad Al-Sheikh, Faisal Al-Naeem, Abdulaziz Al-Arifi, and Moath Al-Asiri. Al Kuzama recently acquired a 35% stake in Raed Food, a limited liability company operating in fast-food restaurant sector, for SAR 30 million.

 

The acquisition was fully funded in cash, and the financial impact is expected to commence following the completion of the ownership transfer and the recognition of profits arising from the company’s equity stake, according to Argaam data.

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