Riyadh-Mubasher: Abdullah Al Othaim Markets said it has agreed with shareholders to reduce its stake in Mueen Recruitment Co. (Mueen) to 68% from 88%.

The Tadawul-listed company had signed an agreement with other shareholders to co-found Mueen as a Saudi closed joint stock company (under establishment), with SAR 100 million capital.

Al-Othaim financed its equity in the new entity from its cash resources and does not forecast any material financial impact for the project in 2015.