Mubarrad’s AMNCO inks MoU to buy 51% of Cash Solutions Ltd.
Arabian Security & Safety Services Co. Ltd. (AMNCO), which is 95 percent-owned by Saudi Transport and Investment Co. (Mubarrad), signed on Sunday a six-month memorandum of understanding (MoU) to acquire a 51 percent stake in Cash Solutions Ltd.
The target company provides state-of-the-art technologies and advisory solutions for cash management, precious commodities, information technology, points of sale, ATMs and treasury management, Mubarrad said in a statement to the Saudi bourse.
AMNCO, which provides professional security services and integrated cash management solutions across the kingdom, was purchased by Mubarrad in January 2015.
No related parties are involved in the deal, Mubarrad added in its statement.