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SASCO sets up new firm with SAR 500THD capital

SASCO sets up new firm with SAR 500THD capital
SASCO
4050
-2.10% 55.80 -1.20
Saudi Automotive Services Co. (SASCO) said the board gave the green light for establishing a limited liability company after obtaining the approval of competent authorities.
The new firm operates with SAR 500 thousand capital (self-financed).
SASCO owns 99% of the new company’s capital, while Vehicles and Equipment Investments (subsidiary) holds 1%.
This new entity will be specialized in offering franchises for the operation of SASCO stations.