GIB Capital announces the signing of a share sale and purchase agreement by the Public Investment Fund for the sale of its stake in National Gas and Industrialization Company to Jadwa Investment Company (acting on behalf of investment funds and clients’ portfolios)
| Element List | Explanation |
|---|---|
| Announcement Detail | GIB Capital, in its capacity as financial advisor to the Public Investment Fund (“PIF”), announces the signing of a binding share sale and purchase agreement by PIF and Jadwa Investment Company on Sunday September 3, 2023. Jadwa Investment Company is acting in its capacity as a manager buying the stake for its managed investment funds and its clients’ portfolios. Pursuant to such agreement, PIF has sold its stake, amounting to 8,186,455 shares representing 10.92% of National Gas and Industrialization Company’s (the “Company”) share capital, to Jadwa Investment Company through a private transaction for SAR 491.19 Million (the “Transaction”). The Transaction will be executed as a negotiated deal in accordance with the Saudi Exchange’s Trading and Membership Procedures on Sunday September 3, 2023.
The completion of the Transaction is subject to a number of conditions, including completing the necessary steps to execute the Transaction. The Transaction will be completed by Tuesday September 5, 2023. |
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