Riyadh-Mubasher: Al-Tayyar Travel Group will acquire a 30% stake in Thakher Investment and Real Estate Development Co. instead of 25%, as per its amended agreement, the company said in a statement to the Saudi bourse on Tuesday.

Under the new agreement, Al-Tayyar will buy 15% of Thakher from Mohammed Alsubeaie & Sons Investment Co. (MASIC) and 15% from Abdullah Almishal & Sons Co. (Almishal) at a total value of SAR 803.8 million.

Al-Tayyar will issue 9.65 million shares to MASIC and Almishal through a capital increase at SAR 83.30 per share, compared with the previously-agreed upon price of 102.90.

Accordingly, the combined shareholding of MASIC and Almishal in Al-Tayyar will reach 4.60%.

The previous agreement stated that Al-Tayyar will acquire 12.5% each from the two shareholders at a total value of SAR 669.9 million.