Al-Babtain Power and Telecommunication Company announces the signing of a binding share purchase agreement to acquire all of the shares of Metalogalva - Irmãos Silva S.A. in Al-Babtain Metalogalva Ltd Company for a value of SAR 8,520,000.
| Element List | Explanation |
|---|---|
| Introduction | Al-Babtain Power and Telecommunication Company announces the signing of a binding share purchase agreement on 03 /10/2025 with Metalogalva - Irmãos Silva S.A. to acquire all of its Portuguese partner’s shares in Al-Babtain Metalogalva Ltd Company for a total value of SAR 8,520,000. |
| Transaction Details | Al-Babtain Power and Telecommunication Company and the Portuguese company Metalogalva - Irmãos Silva S.A. have agreed that Al-Babtain Power and Telecommunication Company will acquire all of the shares of Metalogalva - Irmãos Silva S.A. amounting to 8,520 shares and representing 40% of the share capital in Al-Babtain Metalogalva Ltd., thereby Al-Babtain Power and Telecommunication Company will become the sole owner of 100% of the share capital of Al-Babtain Metalogalva Ltd Company.
Both parties have agreed to determine the value of the 8,520 shares representing 40% stake of the share capital of Al-Babtain Metalogalva Ltd Company based on equity rights as reflected in the latest audited financial statements. |
| Transaction Amount | SAR 8,520,000. |
| Transaction Conditions | Completion of the transaction under the share purchase agreement is subject to the signing and notarizing of the amended articles of association of Al-Babtain Metalogalva Ltd Company at the Saudi Business Center reflecting the transfer of shares to Al-Babtain Power and Telecommunication Company and issuance of an updated commercial registration. Al-Babtain Power and Telecommunication Company will also initiate procedures to convert the status of Al-Babtain Metalogalva Ltd into a national single-shareholder limited liability company, cancel the registration of Al-Babtain Metalogalva Ltd at the Ministry of Investment and remove all references to the name “Metalogalva”. |
| Parties of the Transaction | Al Babtain Power and Telecommunication Company and Metalogalva - Irmãos Silva S.A. |
| Transaction Financing Method | The transaction will be financed through the internal resources of Al-Babtain Power and Telecommunication Company and available financial facilities. |
| Date of Entering Into The Transaction | 2025-10-03 Corresponding to 1447-04-11 |
| Description of Activity of The Asset Subject of The Transaction | Al-Babtain Metalogalva Ltd Company is working in the design and production of steel structures which are used in solar energy activities. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Financial results of Al Babtain Metalogalva Ltd :
Revenus : SR 2022 : 212,706,490 2023: 294,025,765 2024: 414,026,889 Net profits (loss): SR 2022: (5,474,643) 2023: 3,717,554 2024: 15,654,154 |
| Transaction reasons | This acquisition is considered part of the strategy of Al-Babtain Power and Telecommunication Company for operational integration and it opens additional prospects for growth, increased revenues, and cash flows. |
| Expected Impact of the Transaction on the Company and Its Operations | Al-Babtain Power and Telecommunication Company expects the financial impact of the transaction to be positive and reflected in the company’s results for the year 2025. |
| Related Parties | The Portuguese company Metalogalva - Irmãos Silva S.A. holds a 75% stake in the share capital of Petitjean SAS, a French legal entity, in which Al-Babtain Power and Telecommunication Company owns the remaining 25%. |
Comments