BATIC extends Al Muhaidib, Himmah acquisition deadline to year-end

30/09/2018 Argaam

BATIC Investment and Logistics Co. (BATIC) has extended the deadline for the

buyout of Al Muhaidib Land Transport Co. and Himmah Logistics Company to Dec. 31,

2018, the company said in a bourse filing.

 

There is no relevant financial impact from the deadline extension.     

 

In April, BATIC signed an agreement with Abdulkadir Al Muhaidib and Sons and Himmah

Group to fully acquire Al Muhaidib Land Transport Co. and Himmah Logistics Company.

 

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.

 

In May, BATIC revealed that it will issue over 9.33 million shares in order to finance the purchase of companies and assets.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
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.

Most Read