Riyadh – Mubasher: Arab Media Company, a subsidiary of Saudi Research and Media Group has signed on 13 July an interest purchase agreement to acquire 51% equity in Thmanyah Company for Publishing and Distribution.

The acquisition value stands at SAR 33.3 million, which will be funded from the Saudi Research and Media’s resources and cash flows, according to a bourse filing on Wednesday.

Purchasing the company’s stake is still subject to the approval of the General Authority for Competition.