Taiba liquidates Afaq Al Jawda due to constant losses

29/01/2013 Tadawul

Taiba Holding Company announced today on Tadawul the liquidation of Afaq Al Jawda Company, 88% affiliated co., due to its constant losses exceeding half of its capital.

The assets of Afaq Al Jawda were sold in an auction for SAR 26.1m. The financial impact of this decision is to be realized in Q1 of 2013 financials.

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