ARABIAN PIPES TO SELL ITS INVESTMENT IN IESC FOR SAR 169 MILLION

01/10/2013 Tadawul

Arabian Pipes Company announces the Sell of Industrialization and Energy Services Company shares of value SAR 168.75 Millions as following: 
1.details of the deal : Signed sales offer on Monday 30 Sep, 2013 and work to finalize the legal procedure
2.the deal parties : Arab Petroleum Investments Corporation
3.details of the main asset operations : Capital Investment
4.Expecting impact on the company operations : Profits SR 56.25 million and financial impact during fourth quarter of year 2013

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