Al Arabia shareholders approve SAR 1.05 bln credit facility for Faden Media buyout

Logo of Arabian Contracting Services Co. (Al Arabia)

Arabian Contracting Services Co.’s (Al Arabia) shareholders approved on March 28, a request to arrange a bank credit facility at SAR 1.05 billion to finalize the takeover of Faden Media, according to a statement to Tadawul.

 

The acquisition is subject to the approval of the General Authority for Competition (GAC), the statement added.

 

Al Arabia board of directors approved in October, 2022, a purchase agreement to fully acquire Faden Media, for SAR 1.05 billion, according to data available with Argaam.

 

Deal Details

Transaction

Acquisition of Faden Media

Target Stake

100%

Value

SAR 1.05 bln

Parties

Al Arabia (buyer) and Prince Abdulaziz bin Mashhor Al Saud, owner of Faden Media (seller)

Finance

Bank loans and the company's own resources

Faden Media Financials

Period

Revenue (SAR mln)

Net Profit (SAR mln)

2019

95.69

43.47

2020

85.68

28.43

2021

144.61

85.91

Q1 2022

39.10

11.10

 

 

For More Mergers and Acquisitions 

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Al Arabia board approves acquisition of Faden Media for SAR 1.05 bln

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