Riyadh Cables Group Co. Announces the Purchasing of Shares in Artikul Aziya Kabel LLC in the Republic of Uzbekistan in the amount of SAR 147,697,586
| Element List | Explanation |
|---|---|
| Introduction | Riyadh Cables Group Company announces that, through its wholly owned subsidiary Riyadh Cables Company, it has entered into a Share Purchase Agreement with the owners of Artikul Aziya Kabel LLC in the Republic of Uzbekistan on 27 October 2025, to acquire 51% of the shares of Artikul Aziya Kabel LLC |
| Transaction Details | Under the Share Purchase Agreement signed with the owners of Artikul Aziya Kabel LLC, Riyadh Cables Group Company will acquire 51% of the shares of Artikul Aziya Kabel LLC in the Republic of Uzbekistan. |
| Transaction Amount | Consideration Value SAR 147,697,586 |
| Transaction Conditions | The purchase of 51% Artikul Aziya Kabel LLC. shares is subject to the fulfillment of a set of conditions precedent, including obtaining the approvals of the Uzbek Competition Committee for the merger and transfer of ownership, as well as completing the legal requirements of the sellers and securing the regulatory consents from the current financing institutions of Artikul Aziya Kabel LLC. |
| Parties of the Transaction | Sellers:
- MR MIRZABOTIR MIRZABOHODIR O’GLI KOMILOV - MR MIRZABAXODIR MIRZAKALONOVICH KAMILOV Buyer: - Riyadh Cables Company (a wholly owned subsidiary of Riyadh Cables Group Company) |
| Transaction Financing Method | The Transaction is to be funded through the Company’s internal resources and existing facilities. |
| Date of Entering Into The Transaction | 2025-10-27 Corresponding to 1447-05-05 |
| Description of Activity of The Asset Subject of The Transaction | Artikul Aziya Kabel LLC was established in 2013 in Uzbekistan and is considered one of the leading manufacturers in Uzbekistan, specializing in the production of power cables, electrical wires, solar energy cables, and cabling systems. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | According to the audited financial statements of Artikul Aziya Kabel, its revenues reached (in Saudi Riyals):
2024: 406,781,250 2023: 289,166,250 2022: 238,068,750 |
| Transaction reasons | The transaction falls within Riyadh Cables Group’s international expansion strategy, aimed at strengthening its presence in Central Asian markets and establishing a regional manufacturing and export platform in Uzbekistan.
It also seeks to diversify Riyadh Cables Group revenue sources via leveraging Uzbekistan’s distinguished resources, technology, expertise, and operational synergy thereby enhancing the Group’s competitiveness in regional and global markets. |
| Expected Impact of the Transaction on the Company and Its Operations | The transaction is expected to expand Riyadh Cables Group’s international operations through the acquisition of a 51% stake in Artikul Aziya Kabel in Uzbekistan, establishing a regional manufacturing hub serving Asian and European markets, enhancing industrial integration and operational efficiency, with positive impact on the company’s financial position |
| Related Parties | None |
| Additional Information | The transaction advisor is PricewaterhouseCoopers (PwC)
For further inquiries, please contact Investor Relations via: Tel: 0112650850 Email: |
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