A subsidiary of “SASCO” completes its acquisition of “Tadbeer” after upgrading it to a “Class A” license

The Saudi Automotive Services and Equipment Company (SASCO) announced the latest developments regarding one of its subsidiary companies (Automotive and Equipment Investments Company) signing a memorandum of understanding with Tadbeer Recruitment Company for the purpose of acquiring 70% of the company’s capital.
The company said in a statement on its website "Saudi Arabia trading"It received notification today of obtaining the license and converting the company from Class B to Class A. Thus, the share of the Automotive and Equipment Investments Company (a subsidiary of SASCO) will be 70% of the capital of Tadbeer Company, amounting to 100 million riyals.
She added that the value of the acquisition is 85 million riyals, which was financed through the company’s existing credit facilities.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter