Riyadh — Mubasher: Mohammed Hadi Al Rasheed and Partners Company has received regulatory clearance from the General Authority for Competition (GAC) to proceed with the acquisition of a 50% stake in Taif Shipping.
The company received the formal no-objection letter from the competition regulator on 6 September 2026.
The transaction, valued at SAR 92.50 million, was initially formalized through a share purchase agreement signed on 5 July 2026.
The deal involves the acquisition of half of the share capital of the unlisted entity, Taif Shipping.
Following the GAC approval, the company confirmed that there have been no material changes to the costs associated with the transaction.
Al Rasheed stated it will now proceed with the remaining legal and regulatory procedures required to finalize the acquisition.
The listed firm noted that further material developments regarding the completion of the deal will be disclosed in accordance with relevant regulations.
This latest update follows a previous market disclosure regarding the acquisition agreement published on 12 July.
