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FINANCIAL NEWS
Saudi Al-Tayyar set for USD 214.24mn investment
05 Apr 2016
(MENAFN) Saudi Arabia’s Al-Tayyar Travel Group has finished all procedures to get a 30 percent share in Zakhr Investment and Real Estate Development.
Moreover, the 30 percent share has been moved to Al-Tayyar and the commercial registry of the travel Co. has been revised to reflect the capital grow of USD 2.57mn.
Additionally, the group will acquire 15 percent of Zakhr from Mohammed I. Alsubeaie & Sons Investment Co. (MASIC) for a whole value of USD 214.19mn.
The two Zakhr shareholders will get new shares in Al-Tayyar, giving it a combined holding of 4.6 percent in the travel company.
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