Riyadh – Mubasher: Saudi Research and Media Group (SRMG) has completed all conditions to acquire a 51% stake in Thmanyah Company for Publishing and Distribution in exchange for SAR 33.31 million.
SRMG has obtained all required approvals and completed all regulatory formalities and terms to transfer the shares of Thmanyah Company to Arab Media Company, including obtaining the no objection letter, according to a bourse filing on Tuesday.
In July 2021, Arab Media Company, a subsidiary of SRMG, signed an interest purchase agreement with Abdulrahman Ali Abumalih, Aseel Salah Baabdullah and Meem Company for Research and Studies to acquire a stake in Thmanyah.
The transaction will have a financial impact on the company, which is expected to be reflected from the fourth quarter (Q4) of 2021.
