Riyadh – Mubasher: Basic Chemical Industries Company (BCI) has announced the divestment of a land asset located in Jeddah for a total transaction value of SAR 12.80 million, according to an official statement.
The property sale transaction, which has been fully settled, is part of a strategic initiative to optimize the BCI’s asset portfolio and enhance its liquidity position in accordance with its long-term operational objectives.
The decision to sell the land was reached following a comprehensive and periodic review of the company’s current asset portfolio.
It is worth noting that this review is a standard part of the company’s management strategy, aimed at ensuring that all holdings are in direct alignment with its operational requirements and broader strategic vision.
BCI further clarified that the financial consideration for the property has been received in its entirety. This immediate receipt of funds is expected to provide a positive contribution to the company’s liquidity position and overall cash flow.
The management indicated that the financial impact of this real estate transaction will be reflected in the company’s financial results during the relevant reporting period, providing transparency to investors regarding the impact of the divestment on the balance sheet.
In line with regulatory transparency and corporate governance standards, BCI confirmed that the sale did not involve any related parties. This confirmation serves to assure stakeholders that the sale was an arm's-length transaction carried out in the best interest of the company and its shareholders.
BCI’s focus remains on executing its strategic roadmap, and this sale represents a tactical move to streamline its asset base.
By divesting assets that are no longer central to its core mission, BCI demonstrates a disciplined approach to capital management. The positive impact on cash flow is particularly significant as it strengthens the company’s ability to manage its ongoing projects and operational commitments.
