GDI to be the sole owner of Transcorp: Dubai-based Green Dome Investments (GDI) — in which Sisco Holding owns a 31.7% equity stake — will take full ownership of Transcorp International, a cold-chain logistics operator active in the Kingdom, the UAE, and Qatar, after signing a SAR 229.8 mn sale and purchase agreement, Sisco said in a Tadawul disclosure (pdf) on Thursday. The transaction — expected to close by year-end — will be financed through GDI’s equity contributions, giving Sisco an effective SAR 76.6 mn stake.

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The transaction also marks the exit of Crescent Enterprises’ CE-Ventures, which had invested in Transcorp in 2018, it said on LinkedIn on Friday.

REMEMBER- Sisco Holding originally acquired its stake in GDI in March 2022 from its subsidiary the Saudi Trade & Export Development Company (LogiPoint) for SAR 44.5 mn.

What’s next? Transcorp will merge its UAE and Qatar operations into GDI’s logistics arm EliteCo., expanding its presence in Saudi Arabia as the Kingdom’s logistics sector gears up for expansion under Vision 2030, according to a press release published on Thursday. Elite Co. and Transcorp will operate across five GCC markets, managing 1.5k vehicles, 27 warehouses, and serving 800 clients.

The acquisition is GDI’s fourth since 2017, bringing its total deployed capital to more than USD 120 mn. Backed by Sisco Holding, GDI plans further acquisitions in 2026 as it works toward building a fully integrated regional logistics platform covering express, e-commerce, and cold-chain services.

ADVISORS- Transcorp tapped PwC as its financial advisor and Addleshaw Goddard for counsel. Meanwhile, Elite Co. appointed FTI to serve as its financial advisor and Support Legal to provide counsel.

IN OTHER M&A NEWS-

#1- The Saudi Electricity Company (SEC) acquired a 30% stake in the National AdditiveManufacturing and Innovation Company (Nami), a 3D printing firm, for an undisclosed amount, it said on LinkedIn on Thursday. SEC will boost efficiency by lowering the costs and time of the manufacturing process by localizing the supply chain, while Nami — the JV between state-owned Dussur and US-based 3D systems — will forge agreements with international players, targeting to create more jobs in the Kingdom and upskill the local talent.

#2- Shariah-compliant investment firm Sedco Holding took over a 25% stake in Al BlaghaGroup-owned Tamasuk Holding, marking Sedco’s first-ever investment in the Kingdom’s infrastructure sector, it said in a press release on Thursday, without disclosing the financial details. Tamasuk currently runs a portfolio of SAR 4 bn involving diversified infrastructure projects, with a focus on social and transportation infrastructure, along with renewables and utilities projects. The firm eyes further expansion through Sedco’s partnership.

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