Bawan finalizes 80% stake transfer in Petronash

13/02/2025 Argaam
Logo ofBawan Co.

Logo of Bawan Co.

Bawan Co. completed the legal procedures to acquire an 80% stake in Petronash Holding Ltd.

 

According to data available with Argaam, Bawan signed, in October 2024, an agreement with Petronash Global Ltd. to acquire the entire stake of Petronash Holding at $175 million (nearly SAR 656 million), adjustable based on the company’s future results.

 

For more news and details on M&As

 

Bawan clarified that an initial amount of $80 million (nearly SAR 300 million) will be paid to Petronash Global in exchange for 80% of Petronash Holding’s shareholding, subject to the necessary terms and approvals under the agreement.

 

Bawan will also pay Petronash Global a maximum of $60 million (approximately SAR 225 million), provided achieving financial targets set for 2024 to 2026.

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