Saudi Cable gets regulatory approvals on selling Turkish subsidiary

17/09/2018 Argaam

 

Saudi Cable Co. (SCC) signed has obtained regulatory approvals in both Turkey and China to sell Demirer Kablo, its wholly owned subsidiary in Turkey, to China’s Jiangsu Zhongtian Technology Co. (ZTT).

 

Procedures for transferring the partners' shares have also been completed, and the ownership has been transferred to the new owners, SCC said in a statement to Tadawul.

 

In July, SCC signed an agreement to sell its Turkish subsidiary to ZTT for SAR 250 million to focus on Saudi-based core businesses and to improve its financial position.

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.