SABIC Agri-Nutrients reaches deal on cash adjustment in SANIC acquisition

23/12/2021 Argaam

Logo of SABIC Agri-Nutrients Co.

SABIC Agri-Nutrients Co. announced today, Dec. 23, completed the procedures for determining the monetary adjustment in the total value of its acquisition of all shares in the capital of SABIC Agri-Nutrient Investments Co. (SANIC) from Saudi Basic Industries Corp. (SABIC).

 

The cash adjustment to the total value of the transaction amounted to SAR 1.81 million, which will be paid in cash to SABIC in accordance with the terms and conditions of the sales and purchase agreement (SPA), the company said in a bourse filing.

 

The financial impact of the cash adjustment will reflect on financial results in Q4 2021.

 

In January, the company announced the completion of the procedures to acquire the entire share capital of SANIC, owned by SABIC, Argaam reported.

 

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