Riyadh – Mubasher: Batic Investment and Logistics Company has signed an agreement to purchase the entire shares owned by Smart Solutions Co. in the capital of Smart Cities Solutions for Communications and Information Technology (IT) in exchange for SAR 12 million.

Batic acquires 4% of the capital of Smart Cities Solutions for Communications, represented in the entire shares owned by Smart Solutions, according to a bourse filing on Thursday.

The transaction terms include the necessary official approvals by the Competition Authority and any other entities.