SALIC approves sale of entire stake in Saudi Fisheries for SAR 122.4M

Saudi Fisheries Co. (Alasmak) received, on Aug. 15, a letter from its shareholder, Saudi Agricultural and Livestock Investment Co. (SALIC), stating acceptance of the binding offer to complete a special sale and purchase transaction by selling SALIC’s entire stake in Alasmak amounting to 16 million shares or 40% of the company's shares, in favor of Abdulaziz bin Abdullah Al-Humaid for SAR 122.4 million.

In a statement to Tadawul, the company said that the sale will be implemented after obtaining the regulatory approvals.

Upon the completion of the transaction and the transfer of shares between shareholders, there will be a change in the company's major shareholders, which will be announced by the company, the statement added.