Obeikan Glass finalizes full acquisition of Obeikan AGC

Logo of Obeikan Glass Co.

Obeikan Glass Co. completed the acquisition of all partners' shares in Obeikan AGC Co. and finalized the closing procedures to become the sole owner of Obeikan AGC.

In a statement to Tadawul, Obeikan Glass said the transaction was completed after fulfilling all contractual conditions and obtaining the necessary regulatory approvals in Saudi Arabia.

According to data available with Argaam, Obeikan Glass signed an agreement in September to acquire all partners’ shares in Obeikan AGC, a joint venture (JV) in which it previously held a 19% stake.

The deal, valued at SAR 22.9 million, grants Obeikan Glass full ownership of the entity.