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16/08/2015 04:01 AST
DUBAI: Saudi Arabia's Al-Tayyar Travel Group said on Sunday it had agreed on a share swap worth SR669.9 million ($178.6 million) to acquire a 25 percent stake in Zakhr Investment and Real Estate Development.
The stake, which will come equally from two existing Zakhr shareholders, will be paid for by issuing 6.51 million new Al-Tayyar shares, a bourse filing from the travel firm said.
Zakhr Investment has a project in Makkah which includes a hotel and residential and commercial facilities serving pilgrims and residents.
The acquisition is conditional on changes to land titles as well as regulatory and shareholder approvals.
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Saudi Gazette
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
Ticker | Price | Change |
---|---|---|
HERFY | 48.69 | 0.96 (2.01 |
DUR | 20.56 | 0.04 (0.19 |
JAZEERA | 630.00 | 7.00 (1.12 |
KCIN | 1,099.00 | 0.00 (0.00 |
HOKAIRGROUP | 21.99 | 0.19 (0.87 |
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