Batic shareholders approve acquisition of Smart City Solutions’ 2% stake for SAR 6 mln

30/12/2021 Argaam

Logo of Batic Investments and Logistics Co.

Batic Investments and Logistics Co.’s shareholders approved the acquisition of Hazon Holdings’ entire ownership, which represents 20 shares, or 2% of Smart City Solutions for Communications and Information Technology, as well as its rights and obligations at a total value of SAR 6 million without any preferential conditions.

 

This came during the company’s ordinary general meeting (OGM) held on Dec. 29, according to a bourse filing.

 

Chairman Ahmed Al Sanie and board member, Feras AlBawardi, have an indirect interest in Smart City Solutions.

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