The National Company for Glass Industries’ (Zoujaj) general assembly has approved a deal to acquire a 50 percent stake in Saudi National Lamps and Electricals Company Limited (SANLEC).

 

Zoujaj has already paid a nominal value of SAR 20,000 to buy the company. It will also bear SAR 15.4 million in liabilities, which include SAR 6 million to the Saudi Industrial Fund and SAR 9.4 million to a commercial bank, the glass maker said in a statement to Tadawul.

 

Zoujaj shareholders also approved the distribution of semi-annual profit starting from the current year.

 

Last May, Zoujaj signed a memorandum of understanding with the two companies to buy their stakes, according to Argaam.

 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request