Mubarrad buys 95% of Amnco for SR180.3m

10/02/2015 06:13 AST

SAUDI Transport and Investment Company (Mubarrad) signed a SR180.3 million agreement to acquire 95% of the shares of the Arabian Company for Security Services (Amnco) - the provider of cash and assets in transit services.

Mubarrad - the leading provider of trucking transportation and logistics solutions in Saudi Arabia - paid SR20 million from its own resources upon signing of the contract. The payment, financing and completion of the transaction will be announced following the review by financial advisor MaCeen Capital and the conclusion of the legal procedures.

Yasser Al-Sharif, CEO of MaCeen Capital, said: "The conclusion of this deal is in favor of both parties. it is also a new and successful addition to our achievements record."

The agreement comes in line with Mubarrad's strategy of income diversification and expansion of the trucking transportation services and logistics solutions services that have been going on since 2013.

MaCeen Capital is a financial investment company established in 2009 and licensed by the CMA to deal in the Saudi capital market. MaCeen Capital works to create solid opportunities that are synchronized with the market trends, and serves the investors' financial goals through a wide range of local investment opportunities. Since its establishment, MaCeen Capital has achieved tremendous growth.


Saudi Gazette

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