Riyadh — Mubasher: Naqi Water Company signed a memorandum of understanding (MoU) to acquire a 70% equity stake in Ahali Najd Car Rental Company on 1 July 2026.
The agreement, which is non-binding for Naqi Water but binding for the target company, aligns with the water producer’s strategy to expand and diversify its business interests into new growth sectors.
The MoU is valid for a duration of 180 days from the signing date and may be extended by mutual written consent. Ahali Najd Car Rental is a Saudi limited liability company with an established operational presence and a diverse customer base.
Naqi Water stated that the acquisition aims to capture investment opportunities that enhance its financial position and operational profitability.
According to the disclosure, Naqi Water intends to fund the transaction through its internal resources and cash flows without resorting to external financing.
The final financial impact of the acquisition will be determined following the completion of a final valuation.
The transaction remains subject to the completion of regulatory requirements and the agreement of final terms between both parties.
Earlier in June, the company inaugurated a new branch in Riyadh dedicated to its table egg business as part of its broader expansion strategy to boost production while strengthening its footprint in the capital city.
