Amiantit says transfer of subsidiary ownership to Alinma Bank complete

03/01/2024 Argaam

Amiantit says transfer of subsidiary ownership to Alinma Bank complete

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. said in a statement to Tadawul that the settlement agreement to transfer its entire stake in its wholly owned subsidiary was concluded with Alinma Bank.

 

According to data compiled by Argaam, the company signed earlier this week a settlement agreement with a local creditor bank to transfer its entire stake in its wholly owned subsidiary, International Infrastructure Management and Operation Co., to a bank-affiliated investment fund. In return, the bank would release Amiantit from its SAR 572.7 million debt.

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