Al-Babtain sells 50% stake in small wind power unit

04/02/2018 Argaam

 

Al-Babtain Power & Telecommunication Co. (Al-Babtain) sold a 50 percent stake of its fully owned subsidiary, International Wind Power LLC, to a Spanish investment company for SAR 2.5 million.

 

The two parties, now 50-50 owners, said they would raise the company's capital to SAR 16.8 million from a current SAR 5 million, Al-Babtain said in a statement to Tadawul. The capital increase seeks to support the company’s financial position. 

 

No related parties are engaged in the deal, and financial impact is expected to be reflected in early 2019. Regulatory approval has yet to be obtained.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.