Al Tayyar Travel Group plans to acquire a 30 per cent stake in Zakhr Investment and Real Estate Development through a share swap arrangement. Tayyar will acquire 15 per cent of Zakhr from Mohammed I Alsubeaie & Sons Investment Co (MASIC) and the same stake from Abdullah Almishal & Sons Co (Almishal) for a total value of 803.8 mn riyals ($214.4 mn). In return, the two Zakhr shareholders will receive new shares in Al Tayyar, giving the pair a combined holding of 4.6 per cent in the travel company.
Contact: Al Tayyar Travel Group.
Tel: +971 2 622 8181.