Saudi Arabian Amiantit Co. — M&A Activity 2017

Aug 29, 2017

Saudi Arabian Amiantit Co. announces the final latest developments concerning its merger of European entities with “HOBAS”.

2160 · 29/08/2017 08:00:56 · Announcement #47986 · View on Saudi Exchange

Saudi Arabian Amiantit Co. announces the final latest developments concerning its merger of European entities with “HOBAS”.

Subsequent to its announcement dated 10-8-2017 & its announcement dated 6-8-2017, related to the latest developments on the merger of its European entities with HOBAS, Amiantit would like to announce that most of the legal formalities necessary for the closure of the merger have been completed on evening of Monday 28-8-2017. As far as the financial impact on the merger is concerned, Amiantit expects an estimated capital gain ranging approximately between SAR 50M to SAR 60M, and a positive estimated cash flow ranging approximately between SAR 2M to SAR 4M, during the third quarter of 2017.

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