GASCO signs deal to acquire 50% stake in JACKO Gases for SAR 125M

Based on the agreement, GASCO will inject SAR 125 million into JACKO in exchange for the new shares, with the full investment intended to fund expansion plans, support business growth, and strengthen JACKO’s operational position.

The transaction was executed with Mohammed Al-Otaibi as the seller, and it will be financed from the company’s own resources and available cash balances.

The agreement includes standard terms, conditions, and warranties from both parties in line with customary practices, with completion subject to obtaining all relevant regulatory approvals.

JACKO’s activities include production, packaging, and distribution of industrial and medical gases, as well as associated logistics services. The company also highlighted the revenue performance of JACKO over the past four years.

*Unaudited

GASCO pointed out that the transaction aligns with its strategy to diversify investments into sectors adjacent to its liquefied petroleum gas (LPG) operations and unregulated businesses, supporting economic growth and enhancing sustainability.

It expects the financial impact of the deal to begin once all conditions are met, noting that JACKO’s financials will be consolidated into its own statements from the transaction complete date, in accordance with the applicable accounting standards.

GASCO highlighted that signing the agreement does not constitute completion of the acquisition, as it remains subject to approval from the General Authority for Competition and any other required regulatory consents. It added that it will announce the completion of the transaction or any other material developments in due course.

There are no related parties to the deal, the company added.