Tasnee reduces capital of Polyol joint venture

31/12/2013 Argaam

The National Industrialization co. (Tasnee) announced today on Tadawul a 78.57% capital reduction (from SAR 140m to SAR 30m) of the advanced manufacturing co. for  polyol and its derivatives "an affiliated company" due to the increase in capital over the company's current needs.

 

 

 

The reduced amount of SAR 110m will be returned to the partners owning the affiliated co. in which Tasnee has a 50% interest.

 

 

 

This procedure will not affect partners' ownership ratios nor the company's liabilities.

 

 

 

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