Alujain closes acquisition of NATPET, ups ownership to 97.55%

10/12/2023 Argaam

اللجين تعلن اكتمال صفقة شراء حصص مجموعة من مساهمي شركة ناتبت وارتفاع ملكيتها إلى 97.55%

One of Alujain's plants

Alujain Corp. closed the acquisition of National Petrochemical Industrial Co. (NATPET) after completing the share swap and cash consideration payment.  

 

In a statement to Tadawul today, Dec. 10, Alujain said its ownership in NATPET rose to 97.55% from 88.59%.  

 

AlJazira Capital was the financial advisor on the acquisition, the statement added. 

 

In October, Alujain signed a share purchase agreement with NATPET, under which the former bought 9.59 million shares, or 8.96% of NATPET, via a nearly 6.2 million share swap and a cash consideration of SAR 90.3 million, Argaam earlier reported.  

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