STC bids to acquire remaining SaleCo stake at SAR 400 mln

27/12/2015 Argaam

Saudi Telecom Co. (STC) will submit a purchase offer to buy Ethad Sale’s 40 percent stake in Sale Advanced Co. (SaleCo) at SAR 400 million, the company said in a statement to Tadawul.

 

The deal will be financed from the company’s resources, while financial impact will be revealed when the offer is approved.

 

STC currently owns 60 percent of SaleCo, which is a Riyadh-based firm that provides sale services across the kingdom and Gulf region.

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