City Cement scraps plans to acquire UACC

City Cement Co. said it has completed the studies related to a potential acquisition of Umm Al-Qura Cement Co. (UACC) and decided not to proceed with the deal, citing its current priorities, available investment opportunities, development initiatives, and subsidiaries.

 

In a statement to Tadawul, the company said it will instead focus on alternative investment paths that are more closely aligned with its strategic plans and long-term objectives.

 

The company continues to assess investment opportunities based on criteria designed to maximize shareholder value, noting that the decision will have no material financial impact.

 

It also reaffirmed its full commitment to disclosure requirements under applicable laws and regulations, adding that it will announce any material developments related to its business in due course.

 

In October 2025, City Cement said the deadline to meet the conditions of the implementation agreement with UACC expired, without the required conditions being met or the necessary procedures completed to finalize the deal, Argaam reported.

 

The implementation agreement was also not renewed.

 

City Cement is reviewing all options to safeguard shareholders’ interests, including the potential resubmission of an acquisition offer for UACC shares, if conditions are favorable and in the company’s best interest.