Nama Chemicals, Sadirat receive non-binding offer for 40% stake in Jana for SAR 200M

Logo of Saudi Industrial Export Co. (Sadirat)

Nama Chemicals Co. and Saudi Industrial Export Co. (Sadirat) stated that FAAD Capital Partners Co. submitted a non-binding offer to Nama Chemicals, which the company received and approved.

According to separate statements from the two companies to Tadawul, the total value of the offer amounts to SAR 200 million, aimed at acquiring 40% of the capital of Jubail Chemical Industries Co. (JANA), a subsidiary of Nama Chemicals, through the issuance of new shares.

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This offer remains non-binding for both Nama Chemicals and Sadirat until a final binding agreement is reached. It is subject to further negotiations, final outcomes, regulatory approvals, and the approval of shareholders from each company.

According to data available with Argaam, Sadirat’s subsidiary, Haddaj Co., entered into a non-binding agreement in October 2024 with FAAD Capital to establish an investment fund aimed at acquiring a stake in JANA. The agreement outlines the fund's core principles, as well as the process for due diligence and valuation.