Saudi Fisheries to vote on sale of 51% in Al-Haridah Aquaculture for SAR 33.2M on Nov. 30

09:21 AM (Mecca time) Argaam
Logo ofSaudi Fisheries Co. (SFICO)

Logo of Saudi Fisheries Co. (SFICO)

Saudi Fisheries Co. (SFICO) shareholders will vote on selling a 51% stake in Al-Haridah Aquaculture Co., a wholly owned subsidiary, to Sara National Trading Co., during the ordinary general meeting (OGM) slated for Nov. 30.

 

Sara National acquired a controlling stake of 51% (5,100 shares) in Al-Haridah’s share capital for SAR 33.15 million, based on the project’s total value of SAR 65 million, the company said in a statement on Tadawul.

 

According to data available with Argaam, Saudi Fisheries recently signed an agreement with Sara National Trading to enable the latter to acquire a controlling 51% stake in Al-Haridah Aquaculture.

 

The agreement also includes the transfer of the project’s land lease, licenses, assets, contracts, and related rights from Saudi Fisheries to Al-Haridah.

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