Alujain completes acquiring GOSI stake in NATPET

Logo of Alujain Corp.

Alujain Corp. completed the share swap deal with the General Organization for Social Insurance (GOSI) for 9.06 million shares of Alujain.

Therefore, the acquisition of GOSI’s stake in the National Petrochemical Industrial Co. (NATPET) was finalized, according to a statement to Tadawul.

Following the completion of the deal, Alujain’s ownership in NATPET increased from 76.40% to 88.59%.

According to data available on Argaam, Alujain signed in June a share swap agreement with GOSI to acquire the latter’s entire ownership of 12.19%, or 13.04 million shares, in NATPET.

GOSI will receive 9.06 million shares in Alujain and a cash consideration of SAR 81.21 million in return for 2.02 million of GOSI shares in NATPET. In August, these shares were transferred to GOSI.

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