Riyadh – Mubasher: Al Tayyar Travel Group Holding acquired 33.3% of Jumia Middle East, which runs “Wadi.com” platform, at the value of SAR125.6 million.
“The group led an alliance to raise the company’s capital by EUR60 million, which was financed from own sources”, the group stated, expecting that the financial impact will be reflected in the second quarter of 2016.
Abdullah bin Nasser, the group’s chief executive said that the management was keeping an eye on “Wadi.com” and its executive team that shortly demonstrated promising potentials to inject a great variety of products into the market.
According to Mubasher data, this acquisition is considered the fifth for the group in less than a year.
