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Batic acquires AMNCO’s stake in Smart City Solutions

Batic acquires AMNCO’s stake in Smart City Solutions
The transaction value stands at SAR 35,000
BATIC
4110
-1.63% 1.81 -0.03

Riyadh – Mubasher: Batic Investments and Logistics Company has signed a sale purchase agreement to acquire the entire shares of its subsidiary Arabian Security and Safety Solutions Company (AMNCO) in Smart City Solutions Company.

The transaction value stands at SAR 35,000 where Batic will buy 35% of Smart City Solutions, according to a bourse disclosure on Thursday.

This acquisition comes in line with Batic’s strategy of growth and expansion. In addition, there will be no financial impact of this transaction as the shares are currently indirectly owned by Batic through AMNCO.