Saudi Ceramic Co. — M&A Activity 2014

Dec 30, 2014

Saudi Ceramic Company announces board of directors recommendation to acquire other shareholders shares in Ceramic Pipe Company (closed joint stock company)

2040 · 30/12/2014 10:52:39 · Announcement #36482 · View on Saudi Exchange

Saudi Ceramic Company announces board of directors recommendation to acquire other shareholders shares in Ceramic Pipe Company (closed joint stock company)

Saudi Ceramic Company announces that its board of directors has resolved in its meeting on Monday the 29th of December 2014 to recommend the cash acquisition of the other shareholders shares of Ceramics Pipe Company (closed joint stock company), memorandums of understanding and presenting to the ordinary general assembly will be performed as per the rules. Saudi Ceramic Company currently owns 50% of Ceramics Pipe Company. Ceramic Pipe Company capital amounts to 193 million SAR number of shares is 19.3 million shares, Saudi ceramic company will acquire all of other shareholders shares. The finical effect will be determined after preparation of Memorandums of understanding. The purpose of acquiring is to merge both companies activities, to increase efficiency of operations. Further developments will be announced later.

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