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×Zoujaj acquires stake in GulfGuard, Guardian Rak
In 2017, The National Co. for Glass Industries (Zoujaj) acquired additional stakes of ten percent each in Guardian Zoujaj International Float Glass (Guardian RAK) and Saudi Guardian International Float Glass Co. (GulfGuard) from Al Zamil Group Holding Co. and Eastern Industrial Investment Co.
Under the deal, the Saudi glass manufacturer paid SAR 12 million in cash and issued SAR 2.9 million shares to the sellers. Zoujaj’s capital increased to SAR 329 million from SAR 300 million, with the issued shares accounting for 9.7 percent of the company’s shares.
Deal Value | Method of Finance | Type | Status |
10.93 Million USD | Capital Increase , Internal Resources | Stake | Completed |
The Acquiring Party
The National Company For Glass Industries - ZOUJAJ | |
Country | Saudi Arabia |
Status | Listed |
Argaam Sector | Glass Products |
*Market Cap (Million SAR) | 1,518.34 |
*Price/Share (SAR) | 46.15 |
The Acquired Party
Guardian Zoujaj International Float Glass Company LLC - Guardian RAK | |
Country | UAE |
Status | Unlisted |
Argaam Sector | - |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
Saudi Guardian International Float Glass Company Limited - Gulf Guard | |
Country | Saudi Arabia |
Status | Unlisted |
Argaam Sector | Glass Products |
*Market Cap (Million SAR) | - |
*Price/Share (SAR) | - |
- *Based on the latest data available
Consultants
Deal Advisor | - |
Legal Advisor | Feras Al Amro Law Firm |
Important Dates
Announced Date | 04-07-2010 |
Expected date for Completion | 24-05-2017 |
Related Parties
Company | Role |
---|---|
Eastern Industrial Co. | Owner |
Zamil Group Holding Company | Owner |
Main Details
Zoujaj invests SAR 122 mln and SAR 220.2 mln in GulfGuard and Guardian RAK respectively accounting for 55 percent stake in both companies. In 2017, Zoujaj reported profit of SAR 36.8 mln from GulfGuard and SAR 32.2 mln from Guardian RAK.
Note
* Zoujaj appointed KPMG Al Fozan & Al Sadhan as financial advisor for the acquisition.