Abdullah Al Othaim Markets Co. — Capital/Financing Update 2021

Apr 21, 2021

Abdullah Al Othaim Markets Co. Announces Project Award with National Center for Privatization

4001 · 21/04/2021 08:44:54 · Announcement #62915 · View on Saudi Exchange

Abdullah Al Othaim Markets Co. Announces Project Award with National Center for Privatization

Element List	Explanation
Introduction	Pursuant to the resolution of the Board of Directors of Abdullah Al-Othaim Markets Company on 18/4/2021 by circulation, to enter into a consortium with Allana International Company and United Feed Manufacturing Company (the "Consortium") for the purpose of jointly bidding to acquire one of the two milling companies offered for privatization by the National Center for Privatization in a public competition which consists of the Second Milling Company and the Fourth Milling Company (“the target asset”) according to the Request For Proposals dated 13/9/2020 issued by The National Center for Privatization in collaboration with the Grains Privatization Committee, Abdullah Al-Othaim Markets Company is pleased to announce the award of acquiring the Fourth Milling Company by the National Center for Privatization to the consortium of Abdullah Al-Othaim Markets Company, Allana International Company and United Feed Manufacturing Company
Date of Award	2021-04-20 Corresponding to 1442-09-08
Project Value	859,000,000
Expected Date for Signing the Contract	2021-06-20 Corresponding to 1442-11-10
Project Details	Acquisition of the Fourth Milling Company
Related Parties	No related parties are involved in this transaction
Additional Information	A joint venture agreement would be signed to organize the relations among the consortium members through a holding company that would be incorporated by the consortium members with equal shares.

The acquisition transaction is intended to be financed through a combination of self-financing by the consortium members and borrowing from local banks in the name of the holding company that will be incorporated for this purpose.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.