Budget Saudi appoints EFG Hermes KSA as financial advisor on AutoWorld acquisition deal
12/10/2023
Argaam
Logo of United International Transportation Co. (Budget Saudi)
United International Transportation Co. (Budget Saudi) appointed today, Oct. 12, EFG Hermes KSA as financial advisor on the planned acquisition of Al-Jazira Equipment Co. (AutoWorld), according to a statement to Tadawul.
In August, Budget Saudi signed a non-binding memorandum of understanding (MoU) with the Saudi Economic and Development Holding Co. (SEDCO) to fully acquire its subsidiary, AutoWorld, by issuing shares to the subsidiary owner, Argaam reported.
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