Riyadh – Mubasher: The board of Abdullah Al Othaim Markets Company has approved the offer submitted by Al Othaim Holding Company to buy all the shares of Abdullah Al Othaim in the Investment Company's capital in exchange for SAR 846.53 million.

Al Othaim Holding will purchase 13.65 million shares, representing 13.65% of the Investment Company's capital, for SAR 62 per share, according to a bourse filing on Wednesday.

The completion of the transaction is subject to the approval of Abdullah Al Othaim's shareholders.

The deal has a financial impact on Abdullah Al Othaim and its operations by achieving capital gains amounting to SAR 593.33 million after zakat.

In addition, the company will use the transaction's proceeds to pay dividends to shareholders.

It is noteworthy to mention that in the first quarter (Q1) of 2022, Abdullah Al Othaim Markets Company logged net profits after Zakat and tax worth SAR 91.31 million, up 58.30% from SAR 57.68 million in Q1-21.