AYYAN signs SAR 185M acquisition, leaseback deal

Logo of AYYAN Investment Co. (AYYAN)

AYYAN Investment Co. (AYYAN) said on April 30 it signed a SAR 185 million asset purchase agreement with Al Othman Agricultural Production and Processing Co. (NADA).

Under the deal, AYYAN will acquire a 15,230-square-meter land plot, along with its fixed and movable assets, in Al-Jawhara district of Al Khobar, in line with the agreement’s terms.

In a statement to Tadawul, the company said the assets include several buildings designated for office and commercial use.

The deal also includes leasing the assets back to NADA for seven years at an annual rental value of SAR 13.88 million. It further includes an operations, maintenance, and management agreement under which NADA will manage and maintain the assets on behalf of AYYAN at no additional cost.

AYYAN said completion of the transaction is subject to customary conditions precedent, primarily obtaining all required regulatory and third-party approvals, where applicable.

The company added the deal will be financed through internal resources, alongside bank financing from a Saudi lender to partially cover the transaction value.

It said the assets comprise four buildings designated for office and commercial activities, adding that the transaction aims to support its expansion strategy and enhance targeted growth and returns, in line with its overall strategic objectives.

AYYAN said the financial impact is expected to be reflected in its financial statements for the second quarter of 2026. It also appointed AlJazira Capital as financial advisor for the deal.

The company noted that Al Othman Holding Co. is a related party under the Capital Market Authority (CMA) definition, adding that NADA is a subsidiary of Al Othman Holding, which directly and indirectly owns a 30.83% stake in AYYAN.

AYYAN confirmed the agreement does not include any preferential terms and said it will disclose any material developments in due course, in line with relevant regulations.