Thimar says it sold 20% of its affiliate for SAR 38 mln

National Agriculture Marketing Company’s (Thimar) said on Wednesday that it sold 20 percent of its stake in its affiliate, Thimar & Wasmi Agriculture Company at about SAR 38 million.

The company said the deal should have a positive impact on its future results, according to its statement to Tadawul, Saudi’s bourse.

The company did not provide information about the buyer.

Thimar first announced the deal on Tuesday. The sale is intended to provide liquidity necessary for expansions of the company’s activities, according to data compiled by Argaam.