Emblem of Aqaseem Manufacturing facility Firm for the manufacture of chemical and plastic supplies
Firm signed Aqaseem Manufacturing facility for the manufacture of chemical substances and plastics A non-binding memorandum of understanding for the aim of buying 40% of the capital of Chief Specific Automotive Service Firm, a restricted legal responsibility firm working within the area of vehicle companies.
The corporate stated in an announcement on Tadawul that the memorandum was signed on November 27, 2025, and has a period of 6 months.
Qimah Monetary Firm was appointed to conduct an analysis of Chief Specific Automobile Service Firm, and a specialised marketing consultant will probably be appointed to finish the monetary and authorized due diligence examine course of, whereas no monetary marketing consultant was appointed by Chief Specific Automobile Service Firm throughout this stage.
She indicated that an important situations of the memorandum are:
1- Conducting authorized and monetary due diligence, acquiring the approval of the Competitors Authority, making a good evaluation from a licensed evaluator, and acquiring a good opinion from a monetary advisor licensed by the Capital Market Authority.
2- Finishing this transaction requires acquiring the approval of the Normal Meeting of Shareholders to cope with associated events, and this approval have to be obtained earlier than finishing the possession switch in compliance with the necessities of the related legal guidelines and laws.
3- The prevailing shareholders won’t straight or not directly personal any share or handle any competing enterprise within the enterprise section of the corporate wherein a minority stake is acquired within the Kingdom of Saudi Arabia or within the GCC nations.
As well as, none of his direct and oblique relations can have any competing companies for a interval of 5 years from the cut-off date.
She stated that the deal will probably be financed from the monetary sources and money flows of the Aqaseem Chemical and Plastics Manufacturing facility Firm.
She indicated that the related events within the memorandum are Muhammad Mishnan Sulaiman Al-Dosari – Chairman of the Board of Administrators and Faisal Khatam Awad Al-Zahrani – Vice Chairman of the Board of Administrators and CEO.
It famous that it’s going to observe all related regulatory procedures to finish the negotiations and attain the ultimate acquisition settlement.
She identified that the approvals obligatory to finish the acquisition deal are:
-Acquiring a no-objection to the acquisition deal from the Normal Authority for Competitors.
– Acquiring the approval of the Board of Administrators of Aqaseem Manufacturing facility Firm for the manufacture of chemical and plastic supplies.
– Acquiring the Normal Meeting’s non-objection to cope with associated events.
– Acquiring some other obligatory approvals from regulatory authorities.
It’s anticipated that the monetary influence of the acquisition can have a optimistic and tangible influence within the medium and long run on the Aqaseem Chemical and Plastic Supplies Manufacturing facility Firm, given the sturdy operational efficiency and speedy progress witnessed by Chief Specific Automotive Service Firm.
Additionally it is anticipated that this acquisition will contribute to diversifying Agaseem’s income sources by coming into right into a promising service sector that enjoys steady progress and excessive demand, which boosts the steadiness of the corporate’s future money flows. Additionally it is anticipated that the acquisition will assist reaching larger monetary and operational returns within the medium and long run due to the rising efficiency of the goal firm and its means to increase and obtain rising revenue margins.
She acknowledged that Chief Specific Automobile Service Firm is among the main corporations within the area of car upkeep and restore companies within the Kingdom of Saudi Arabia, because it supplies a full vary of companies for altering and promoting all varieties of automobile oils, in addition to mild upkeep, tire companies, car care, and different specialised companies associated to automobile service.
It added that it owns and operates a large community of greater than 67 service facilities distributed in varied areas of the Kingdom, making it one of the vital distinguished car service suppliers within the native market.
She stated that Chief Specific has achieved important progress charges in the course of the latest interval, each by way of revenues and profitability margin, supported by the enlargement of the community of service facilities, which exceeded sixty-seven (67) specialised facilities in varied areas of the Kingdom. The corporate additionally continues to implement bold enlargement plans aimed toward rising market share, enhancing the shopper base, and bettering working margins, which displays the power of its enterprise mannequin and the sustainability of its progress.
This deal comes throughout the framework of the technique of the Aqaseem Chemical and Plastic Supplies Manufacturing facility Firm, which goals to diversify its investments and improve its sources of revenue by coming into into operational sectors with excessive progress and steady returns.
She defined that she would announce any basic developments relating to the deal sooner or later.
