“Cisco” accounts for 51% of “Ports Ltd. services” with 132 million riyals
The Sustainable Holding Infrastructure Holding Company (Cisco Holding) announced its signing yesterday, Tuesday, the agreement to buy and sell shares to acquire a 51% royal share in a company "Ports and Storage Services (PSS). "Saudi Arabia trading"Today, Wednesday: "The total value of the deal is up to 132 million riyals, including an initial cash payment of 91.8 million riyals, in addition to additional, conditional payments that depend on performance of up to 40.8 million riyals, when achieving specific financial goals during the next two years. The entire acquisition will be funded in cash."
According to the statement, Alpha Capital has provided its services as a financial advisor to the Ports and Storage Services Company (PSS), while Denzon has assumed its duties as a legal advisor to it. Greenberg Traurge Khaled Al -Thebaiti has also worked as a legal advisor to Cisco Holding Company regarding the deal. A prominent player in the logistical services sector. The wallet of its services, designed on request, and comprehensive logistical solutions. Dammam and Jubail, with plans to develop an additional, rental area of 280 thousand square meters in the same region. This development strategy is in line with the Kingdom’s 2030 vision by developing global logistical centers, enhancing the efficiency of supply chains, and consolidating the Kingdom’s position as a global logistical portal. The deal, as the financial impact will be positive on the financial statements of Cisco Holding by the end of the fourth quarter of 2025.
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