SASCO subsidiary’s 70% acquisition of Tadbeer takes effect

Logo of Saudi Automotive Services Co. (SASCO)

Saudi Automotive Services Co. (SASCO) announced that the deal by its subsidiary, Investments and Equipment Co., to acquire a 70% stake in Tadbeer Recruitment Co. came into effect.

In a statement to Tadawul, the company added that the Class A license has been obtained, and the acquisition agreement became binding upon the acquisition of 70% of Tadbeer’s SAR 100 million capital.

This acquisition is part of the company's goal to diversify its investments and integrate services across its subsidiaries, SASCO said, adding that the related financial impact will be reflected in its 2025 income statement.

According to data available with Argaam, in January, SASCO’s subsidiary, Investments and Equipment Co., sealed an agreement to acquire a 70% stake in Tadbeer Recruitment Co. for SAR 85 million, to be financed from the company’s existing credit facilities.