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Almarai Company announces the acquisition of Etmam Logistics
| Element List | Explanation |
|---|---|
| Announcement Detail | Almarai Company announces the acquisition of Etmam Logistics on 05/12/2023 for a value of (182 M SAR). Etmam Logistics is a company providing frozen storage and distribution capabilities. The acquisition will enhance Almarai’s ability to serve its customers with an expanded range of frozen products across the Kingdom of Saudi Arabia. This will accelerate the development of its Foodservice operations by enabling a broader product offering, drive growth in its poultry business with increased penetration of the frozen category and provide a footprint for expansion into other frozen categories in the future. The acquisition will be financed by Almarai internally generated cashflows. The completion of the acquisition is subject to regulatory approvals. There are no related parties participating in this transaction. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
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Last Price 46.92
Net Change -0.44 (-0.93%)
Value Traded (Sar) 12,302,792.78
Volume Traded 261,701
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