| Element List | Explanation |
|---|---|
| Introduction | Saudi Arabian Refineries Company (SARCO) Announces that Its Subsidiary, Masafi Ventures Company, Has Acquired 85% Ownership Stake in Advanced Industrial Supplies Company. |
| Transaction Details | Acquisition of 85% Ownership Stake in Advanced Industrial Supplies Company |
| Transaction Amount | SAR 12,000,000 (Twelve Million Saudi Riyals). |
| Transaction Conditions | None |
| Parties of the Transaction | Seller: Adwaa Al Khalil Contracting Company Buyer: Masafi Ventures Company |
| Transaction Financing Method | The Company's Own Resources. |
| Date of Entering Into The Transaction | 2026-07-23 Corresponding to 1448-02-09 |
| Description of Activity of The Asset Subject of The Transaction | Advanced Industrial Supplies Company is engaged in the manufacturing of wooden doors, aluminum doors and windows, kitchens, and wooden interior decor. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not applicable. |
| Transaction reasons | This transaction supports the strategic objectives of Masafi Ventures Company and is aligned with its long-term strategy to diversify its revenue streams and invest directly in operating businesses. |
| Expected Impact of the Transaction on the Company and Its Operations | The transaction is expected to have a positive impact on the financial statements of Saudi Arabian Refineries Company (SARCO) by the end of the fourth quarter of 2026. |
| Related Parties | There are no related parties involved in this transaction. |
Saudi Arabian Refineries Company Announces the Acquisition by Its Subsidiary, Masafi Ventures Company, of 85% Ownership Stake in Advanced Industrial Supplies Company.
AI Summary
- Masafi Ventures Company, a subsidiary of Saudi Arabian Refineries Company (SARCO), acquired an 85% ownership stake in Advanced Industrial Supplies Company for SAR 12 million.
- The transaction, completed on July 23, 2026, was funded through the company’s own resources with no additional conditions.
- Advanced Industrial Supplies Company specializes in the manufacturing of wooden and aluminum doors, windows, kitchens, and interior decor.
- SARCO expects a positive financial impact from the acquisition to be reflected in its financial statements by the end of the fourth quarter of 2026.
