BATIC fully acquires two logistics firms

30/04/2018 Argaam

Batic Investment and Logistics Co. (BATIC) has signed an agreement with Abdulkadir Al Muhaidib and Sons and Himmah Group to fully acquire Al Muhaidib Land Transport Co. and Himmah Logistics Company, the company said in a bourse statement.

 

Abdulkadir Al Muhaidib and Sons fully owns Al Muhaidib Land Transport and owns an 80 percent stake in Himmah Logistics, while Himmah Group owns 20 percent.

 

Batic will complete the acquisitions through a capital increase, where it will issue shares to Abdulkadir Al Muhaidib and Sons and Himmah Group.

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