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Eastern Province Cement acquires Prainsa Saudi Arabia for Precast Concrete Co
On January 7, 2013, Eastern Province Cement Co. raised its stake in Prainsa Saudi Arabia Precast Concrete Co. from 50 percent to 100 percent.
| Deal Value | Method of Finance | Type | Status |
| - | Internal Resources | Acquisition | Completed |
The Acquiring Party
| Eastern Province Cement Co. - EPCCO | |
| Country | Saudi Arabia |
| Status | Listed |
| Argaam Sector | Cement |
| *Market Cap (Million SAR) | 3,878.60 |
| *Price/Share (SAR) | 45.10 |
The Acquired Party
| Prainsa Saudi Arabia for Precast Concrete - Prainsa Saudi Arabia | |
| Country | Saudi Arabia |
| Status | Unlisted |
| Argaam Sector | - |
| *Market Cap (Million SAR) | - |
| *Price/Share (SAR) | - |
- *Based on the latest data available
Important Dates
| Announced Date | 02-12-2012 |
| Expected date for Completion | 07-01-2013 |
Main Details
Prainsa Saudi Arabia is a limited liability company that specializes in the production of precast concrete for buildings, bridges and tunnels.
Note
* In 2009, Eastern Cement and its partner Prainsa Spain had raised Prainsa Saudi Arabia’s capital to SAR 55 mln from SAR 5 mln.
* On December 2, 2012, Eastern Cement inked a memorandum of understanding (MoU) with Prainsa Spain to buy its 50 percent stake in Saudi Arabia Precast Concrete Co.