First Milling Company Announces the Signing of a Binding Agreement to Acquire (60%) in Share Capital of Al-Kenan Al-Arabia Trading Company a Single-Person Limited Liability Company
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| Announcement Detail | First Milling Company (the "Company") announces that on 15-09-2025G corresponding to 23-03-1447H, signed a binding agreement to acquire 60% of the share capital of Al-Kenan Al-Arabia Trading Company, a single-person limited liability company and located in the Kingdom of Saudi Arabia and engaged in the trading, and distribution of feed products, for a total consideration of SAR 48 million.
The transaction includes the transfer of ownership in accordance with the terms and conditions stipulated in the agreement, subject to obtaining the necessary regulatory approvals and fulfilling the customary conditions required to complete such transactions.
This acquisition is aligned with the Company’s growth strategy and aims to expand its activities in the feed sector, diversify its sources of income, and strengthen its market position within the Kingdom and beyond.
Completion of the transaction remains conditional upon obtaining the necessary regulatory approvals and fulfilling all conditions stipulated in the agreement. The financial impact of the acquisition will be announced upon completion of the transaction.
The Company confirms that there are no related parties to this transaction.
For more information, please contact the First Mills Investors Relations Department at the email: [email protected] |
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