Al Tayyar acquires 30% stake in Thakher

04/04/2016 Argaam

Al Tayyar Travel Group Holding Co. has completed the acquisition of a 30 percent stake in Thakher Investment and Real Estate Development Co., the travel group said in a statement to the Saudi bourse.

 

Last month, the company approved raising its capital by 4.82 percent to SAR 2.09 billion from SAR 2 billion to finance the acquisition.

 

Al Tayyar finalized the transaction under a share-swap deal through the issuance of 9.65 million shares equally to Mohammed Alsubeaei & Sons Investment Co. (MASIC) and Abdullah Almishal & Sons Co.

 

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