Urgent.. 30 investors apply to buy Wataniya and Safi companies

A document issued by the Council of Ministers’ Decision-Making and Support Council dated August 2023, on the government offering program, showed the latest developments regarding the offering of Wataniya and Safi.

The document indicated that with regard to Safi Company, 2 investors out of a total of 30 investors are currently studying the details of a share purchase transaction.

He indicated that a team of consultants undertook the process of restructuring the company and establishing a new entity that owns the factory in addition to 75 sales outlets, and the deal is expected to be executed in December 2023.

As for a national company, the document showed that the advisory team succeeded in the process of restructuring and establishing a new entity that owns 174 stations out of a total of more than 300 stations, indicating that the promotion of the offering began on March 15 and 8 investors out of a total of 16 investors signed the non-disclosure document.

The document indicated that non-binding purchase offers were received by 8 investors to buy a stake in a national company, as the agency was instructed to complete the offering process with 4 of these investors according to the recommendations of the financial advisor and start with them the procedures of the second stage, indicating that it is expected to complete The deal is in October or November 2023, and the payment will be in dollars or pounds.

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