United International Transportation Co.(Budget) announced signing a partnership agreement with Tranzlease Holding India Ltd. to buy 32.5% of the company's capital at a total value of ($ 7,068,750) to be self financed from FY 2011 cash flows, the company said in a filing to Tadawul.
It added the agreement was inked after BOD studying all partnership requirements, where the best and the most suitable one was chosen, as well as Tranzlease Co. activities fully complies with budget activities in the field of long-term lease.
Abdulillah A Zahid, chairman, Budget, said: this partnership is the beginning of implementing the company investment expansions plans in similar fields to the company business.
He added, we will study the good investments opportunities for the company, inside or outside the kingdom.