Thimar ends fund agreement to acquire 70% stake in Giad Al Ezz

24/07/2025 Argaam
Logo ofThimar Development Holding Co.

Logo of Thimar Development Holding Co.

Thimar Development Holding Co. terminated its agreement with Giad Al Ezz Co. Ltd. and Rassanah Capital (fund manager and financial advisor) to establish an investment fund.

 

The private closed-end equity investment fund was intended to acquire a 70% stake in Giad Al Ezz, Thimar said in a Tadawul filing, adding that all parties have been notified of the agreement’s termination.

 

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The company confirmed it remains focused on pursuing opportunities aligned with shareholder goals, its investment strategy, and approved the financial restructuring plan to ensure growth and stability.

 

The agreement was signed in January 2025 between Thimar, Giad Al Ezz, and Rasana Capital to set up the fund for the planned acquisition, according to Argaam’s data.

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