Mubarrad eyes majority of Mugbel Al Mulhem’s school transport division

23/03/2015 Argaam
Saudi Transport and Investment Company (Mubarrad), which provides various transport services, signed on Sunday a memorandum of understanding with Mugbel Al Mulhem & Partners to acquire a majority stake in its school transport division.
 
Mubarrad intends to submit an offer after performing due diligence and studying the feasibility of the deal, it said in a filing to Tadawul, Saudi Arabia’s bourse.
 
The MoU lasts for 60 days. The agreement comes as part of Mubarrad’s strategy to diversify its sources of income and grow its revenue, it added.

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