Yamama Cement sells stake in Arabian Shield

Yamama Cement Co. (YCC) sold its 3.79 percent holding, or 758 thousand shares, in Arabian Shield Cooperative Insurance Co., according to its board report for 2014.

The deal might have been only concluded a few days ago, as the cement producer’s preliminary financial results still show this equity.

YCC had owned 5 percent of the insurer, equal to one million shares at SAR 10 million. YCC offloaded 242 thousand shares in 2013, reducing its stake to almost 758 thousand shares.