A subsidiary of “Al-Masafi” acquires 35% of “Raya Renewal” for 4.9 million riyals
The Saudi Arabian Refineries Company announced that its subsidiary, Masafi Venture Company, has purchased a 35% ownership stake in Raya Al-Tajdid Contracting Company, a limited liability company.
The company said in a statement on its website "Saudi Arabia trading"The value of the deal is estimated at 4.9 million riyals, indicating that the parties to the deal include: the seller "Naqaa Al-Ward Trading Company, owner of Raya Al-Tajdid Company"Buyer: company "Masafi Ventures 35%, and Ithra Holding Company 35%.
She added that the financing of the deal, which she concluded last Wednesday, was through self-resources.
According to the statement, Raya Al-Tajdid Contracting Company works in the field of general construction for residential and non-residential buildings.
She explained that the financial statements for the last three years of the asset subject of the deal are:
1- 29,672,000 riyals in 2023.
2- 28,235,000 riyals in 2024.
3- 71,608,000 riyals in 2025.
According to the statement, this deal supports the strategic objectives of Masafi Venture Company, and is in line with its long-term plan to diversify its revenue sources and invest in activities Operations directly.
It is expected that this deal will contribute positively to the financial statements of the refinery company by the end of the third quarter of 2026.
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