Taiba signs binding agreement to fully acquire Dur

Taiba Investments Co. signed a binding implementation agreement on April 8 to make an offer to acquire 100% of Dur Hospitality Co.’s shares in exchange for issuing new shares in Taiba.

In a statement to Tadawul, the companies pointed out that the deal was concluded in compliance with Article (26) of the Merger and Acquisition Regulations, and in accordance with the Rules on Offering Securities and Continuing Obligations issued by the Board of the Capital Market Authority (CMA).

Taiba announced its intention to submit an offer under the acquisition agreement pursuant to the terms and conditions set forth in the implementation agreement.

In December 2022, Taiba and Dur signed a memorandum of understanding on a possible securities exchange deal, including a non-binding agreement on structuring and share swap coefficient, Argaam earlier reported.

Merger Details
Latest Development	Signing binding merger agreement
Merger Method	Taiba to acquire 100% of Dur shares
Compensation Method	Issuing new shares for Dur shareholders
Swap Coefficient	Dur shareholders will receive one Taiba share for every share they hold in Dur
New Entity	Taiba Investments Co.
Dur After Merger	Its shares will be delisted from Tadawul and it will be wholly owned by Taiba
Taiba’s Capital Before Merger	SAR 1.6 bln
Taiba’s Capital After Merger	SAR 2.6 bln
Increase Rate	62.3%
Taiba’s Share Price as per Swap Coefficient	SAR29.50
Dur Share Price for Merger Purposes	SAR 29.50 (up 22.5% compared to its last closing price of SAR 24.08)
Dur Total Share Value for Merger Purposes	SAR 2.95 bln
Taiba Shareholders’ Share After Merger	61.6% of the merging company’s capital
Dur Shareholders’ Share After Merger	38.4% of the merging company’s capital

For More Mergers and Acquisitions

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