Riyadh – Mubasher: Batic Investments and Logistics Co has extended the deadline for purchasing Al Muhaidib Land Transport Co. and Himmah Logistics Company until 31 December.

The transactions will be subject to regulatory approvals, including the Capital Market Authority’s (CMA) approval, according to a statement to the Saudi Stock Exchange (Tadawul).

In April, BATIC inked a contract with Abdulkadir Al Muhaidib and Sons and Himmah Group to acquire 100% of Al Muhaidib Land Transport Co. and Himmah Logistics Company.

BATIC last reported an 87.9% profit decrease, logging SAR 1.94 million in the second quarter of 2018, from SAR 16.05 million during Q2-17.

By 10:57 am Saudi time, BATIC’s stock remained unchanged at SAR 36.25.