Riyadh – Mubasher: Saudi Transport and Investment (Mubarrad) sold a 15% stake of Arabian Security & Safety Services Co. Ltd. (Amnco) to Kassem Alesayi Group at a total of SAR 150 million, according to a bourse filing on Sunday.
After this sale, the company still owns a majority stake in the security services provider (79.98%), the filing revealed, adding that the deal is still pending official approvals.
In 2015, Mubarrad purchased 95% of Amnco at SAR 180.3 million. The company further appointed Albilad Capital to financially advise on the private placement of its 95%-owned company, an earlier statement on Tadawul showed.
The financial impact will be noticed starting from the first quarter of the fiscal year 2017, according to the statement.
