Alhokair Group in talks with Alhokair Holding to acquire hotels in lieu of new shares

11/09/2022 Argaam

Logo of Alhokair Group

Abdulmohsen Alhokair Group for Tourism and Development Co. said that it started negotiations with Abdul Mohsen Alhokair Holding Co. (a related party) to acquire a number of hotel assets currently leased by the company in exchange for issuing new shares to increase the company's capital and strengthen its operational activities.

 

Any new developments will be announced in due course, the company said in a bourse statement.

 

Alhokair Holding currently holds 31.5% stake in Alhokair Group, according to data compiled by Argaam.

 

For More Mergers and Acquisitions

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