Abu Dhabi National Oil Co
Abu Dhabi National Oil Co. (ADNOC) is considering the acquisition of a majority stake in Wataniya Petroleum Company, affiliated to the Ministry of Defence’s National Service Products Organization (NSPO).
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Ayyan Investment Co
The board of Ayyan Investment Co. decided to negotiate with the shareholders of Al Ahsa Medical Services Co, a 69.93%-owned subsidiary, who hold non-controlling stakes.
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The National Building and Marketing Company
The National Building and Marketing Company has renewed a memorandum of understanding (MoU) to acquire a 50% stake in German Saudi Company for Industry for SAR 200 million.
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Meraas Leisure and Entertainment
Meraas Leisure and Entertainment has notified the board of DXB Entertainments about its plan to make a conditional cash offer to acquire all issued and paid up ordinary shares of DXBE.
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Ghabbour Auto
Ghabbour Auto announced that its fully-owned non-banking financial arm GB Capital acquired 20% of New City Housing & Development, formerly known as Orascom Housing Communities (OHC).
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Abu Dhabi Islamic Bank – Egypt
Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) announced that Kayan for Sustainable Development has submitted an offer to acquire 90% of one of its subsidiaries.
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Vodafone
Vodafone had ended talks with the Saudi Telecom Company (STC) on the $2.4 billion sale of its 55% shareholding in Vodafone Egypt after a series of missed deadlines to complete the deal.
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SICO
Bank Muscat and Bahrain-based investment bank SICO have agreed to go ahead with SICO’s offer to acquire a majority stake in Muscat Capital Company, a wholly-owned Saudi-based subsidiary of Bank Muscat.
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Aljazira Takaful Taawuni Company
The Capital Market Authority (CMA) approved Aljazira Takaful Taawuni Company’s request to increase its capital from SAR 350 million to SAR 470.6 million by issuing 12.1 million ordinary shares to merge with Solidarity Saudi Takaful Company.
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