BCI announces ownership developments at affiliate firms

28/03/2012 Argaam

Further to the announcement of the Basic Chemical Industries Company on Tadawul on February 19, 2011 regarding the developments in its affiliated companies, the company announces that:

  1. The required procedures for amending the industrial license and commercial registry of the affiliated Saudi Water Treatment Company were finalized, putting the stake of Chemical Marketing and Distribution Company at 1%, with BCI maintaining its previous 99% stake. As a result, BCI and its affiliated companies now fully own the company.
  2. The foreign partner (Mortar Investment International Limited) has transferred its 53% stake in the National Adhesives Company after obtaining the approval of the General Investment Authority and issuance of the modified industrial license. BCI maintains its previous stake of 47%.

No financial effect on BCI as result of the above developments.
 

 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.