| Element List | Explanation |
|---|---|
| Introduction | Miahona Company announces the signing of a Sale and Purchase Agreement (SPA) to acquire 100% Equity Stake in Sha’s Water Services ltd. Company including relevant stake in its affiliates. The Transaction will entail Miahona Co’s growth in the water distribution business space in Riyadh across multiple customers segments, and enhance its positioning in the industrial sector. |
| Transaction Details | Miahona Company announces the signing of a Sale and Purchase Agreement (SPA) to acquire 100% Equity Stake in Sha’s Water Services ltd. Company including relevant stake in its affiliates. |
| Transaction Amount | The Transaction is currently valued at SAR 95,010,990 , that could increase up to max SAR 102,710,990 subject to and conditional on achievement of specific financial targets based on 2025 Audited Financial Results of Sha’s Water Services ltd. Company and its affiliates |
| Transaction Conditions | The agreement includes the customary terms, conditions, and fundamental warranties provided by each party in accordance with market practice, and the completion of the transaction is subject to obtaining all relevant regulatory approvals |
| Parties of the Transaction | Buyer: Miahona Company Seller: Al Manhal Water Factory Company Limited, an Affiliate of Nestle Waters SAS. |
| Transaction Financing Method | The acquisition will be funded through Miahona Co’s internal sources and available financing facilities |
| Date of Entering Into The Transaction | 2026-06-04 Corresponding to 1447-12-18 |
| Description of Activity of The Asset Subject of The Transaction | Sha's Water Services ltd. Company, founded in 1998, owns and operates water facilities in Riyadh, and renders water distribution services, through network and non-network infrastructure. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Sha’s Water Revenues (’000s): 2023: SAR 46,518 2024: SAR 49,136 Sha’s 2025 Audited Financial Statements are not yet available. |
| Transaction reasons | The Transaction is in line with Miahona Co’s strategy to expand its water distribution business in Riyadh, serving commercial, residential and industrial customers. The Transaction will also enhance Miahona Co’s positioning as water services provider within the industrial cities. The Transaction will generate operational synergies and upsides in relation to prospective new business development opportunities. The Transaction supports Miahona mission and values, that align with Saudi Vision 2030 in relation to water sustainability targets in the Kingdom. |
| Expected Impact of the Transaction on the Company and Its Operations | The Transaction will result in Miahona Co’s water distribution business growth in Riyadh across multiple customers segments, as well as in enhancing its positioning in the industrial sector, associated with incremental contributions to Miahona Co’s operational efficiency and earnings. |
| Related Parties | None |
| Additional Information | The signing of this transaction does not constitute the completion of the acquisition, as it remains subject to the approval of the General Authority for Competition and any other required regulatory approvals. Miahona Company will announce the completion of the transaction or any other material developments in due course. For any further inquiries, please contact the Investor Relations Department at the email: IR@miahona.com |
Miahona Company announces the signing of a Sale and Purchase Agreement (SPA) to acquire a 100% equity stake in Sha’s Water Services ltd. Company
AI Summary
- Miahona Company signed a Sale and Purchase Agreement to acquire a 100% equity stake in Sha’s Water Services ltd. Company from Al Manhal Water Factory Company Limited (an affiliate of Nestle Waters SAS).
- The transaction is currently valued at SAR 95.01 million, with a potential increase up to SAR 102.71 million contingent on Sha’s Water Services achieving specific financial targets in its 2025 audited results.
- The acquisition will be funded through internal cash and available financing facilities, and remains subject to regulatory approval from the General Authority for Competition.
- The deal expands Miahona's water distribution business across residential, commercial, and industrial segments in Riyadh, utilizing Sha’s Water's existing network and non-network infrastructure.
