Sustained Infrastructure Holding Co. — M&A Activity 2021

Nov 28, 2021

Saudi Industrial Services Co. announces an acquisition through its affiliate Saudi Trade and Export Development Company (“LogiPoint”)

2190 · 28/11/2021 08:35:26 · Announcement #65765 · View on Saudi Exchange

Saudi Industrial Services Co. announces an acquisition through its affiliate Saudi Trade and Export Development Company (“LogiPoint”)

Element List	Explanation
Announcement Detail	Saudi Industrial Services Co. (“SISCO” or “the Company”) announces

that its subsidiary Saudi Trade and Export Development Company (“LogiPoint”) (which is 76% owned by SISCO), has acquired Elite Group (“Elite”) through its affiliate company Green Dome Investments LLC (“Green Dome”) which is 31.7% owned by LogiPoint.

Green Dome has acquired 100% of the share capital of Elite.

The transaction was completed on 25 November 2021 corresponding to 20/04/1443. LogiPoint’s contribution to Green Dome to date is SAR 58 million.

The impact of the transaction will be reflected in SISCO’s Q4 2021 consolidated financial statements through SISCO’s subsidiary LogiPoint.

Elite is a leading fully integrated land freight and courier solutions providers in the Middle East. Elite has over 1000 staff, 600 trucks and 9,290 square meters (100,000 square feet) of warehouse capacity.

This acquisition gives SISCO and LogiPoint access to a highly specialized overland freight and courier services business with state-of-the-art operations and assets across Oman, Bahrain, Qatar and the United Arab Emirates, with its regional hub in Dubai.

The transaction is in line with SISCO’s new 5-year strategy which aims to expand its presence in logistics services with an emphasis on an asset light model to provide an end-to-end solution for the rapidly growing regional e-commerce sector.

The transaction is funded through a combination of debt and equity via Green Dome.

There are no related parties in this transaction.

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.