BinDawood Holding targets better returns through acquisitions: CEO

Ahmad BinDawood, CEO of BinDawood Holding

Acquisitions by BinDawood Holding Co. aim to expand the company’s main field in the retail sector, CEO Ahmad BinDawood said, adding that the company plans to grow these firms to a certain size before exiting.

In an interview with Al Arabiya on the sidelines of a conference held in London to present investment opportunities in Riyadh, he explained that there could be better returns if these firms are sold or directly listed.

Acquiring Saudi-based International Applications Trading Co. (IATC) and France-based Ykone through setting up Future Retail for Information Technology Co., is intended to obtain full compatibility in all group companies while adding added value to the company, he said.

According to the current growth plans, there are opportunities for new store openings and acquisitions in the region during the current year, the CEO noted, indicating that all these projects are self-financing using the cash available to the company.