Riyadh – Mubasher: Saudi Transport and Investment Company (Mubarrad) said that its subsidiary, Arabian Security and Safety Services (Amnco), signed an acquisition with Monetary Solution Limited on Wednesday.
Under the agreement, Amnco will acquire 51% of Monetary Solution's capital, according to a bourse filing on Thursday.
The acquisition value amounts to SAR 6 million, self-financed by Amnco. The deal is expected to be concluded in February and have its impact on the results of the first quarter of 2017, the statement said.
The deal will be reflected positively on the services provided by both companies.
In October, Amnco signed a six-month memorandum of understanding (MoU) to consider acquiring a 51% stake in Monetary Solution Limited.
Mubarrad owns 95% of Amnco.
