14 Jumada I 1446 - 15 November 2024
    
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Eye of Riyadh
Business & Money | Sunday 1 October, 2023 10:00 am |
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Red Sea International, Al Rajhi sign SAR 330 mln agreement to finance acquisition

Red Sea International Co. signed on Sept. 28 a financing facility agreement contract worth SAR 330 million with Al Rajhi Bank.

 

The agreement aims to finance the acquisition of a 51% stake in Fundamental Installation for Electric Work Co. Ltd. (First Fix), the company said in a statement to Tadawul, adding that it obtained a loan of SAR 250 million to cover the purchase agreement's cash portion.

 

 

 

Source : Argaam

 

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