Catrion fast-tracks 55% AKCC acquisition ahead of schedule

Catrion Catering Holding completed its acquisition of a 55% stake in Al Khalejiah Catering (AKCC) earlier than expected, according to a Tadawul disclosure. The agreement — originally slated for completion in 2Q — was finalized following regulatory clearance from the General Authority for Competition.

The details: Valued at SAR 440.9 mn, the transaction includes an initial payment of SAR 315.2 mn and performance-based earnouts of up to SAR 125.7 mn tied to financial targets through 2027. Catrion also holds a call option to acquire an additional 15% of AKCC within the next three years.

Another logistics park on the way:

Saudi Ports Authority (Mawani) signed an SAR 250 mn lease agreement with Sultan Logistics to set up a logistics park at Al Khumrah’s Jeddah Islamic Port, according to a statement. The 200k sqm project is expected to “enhance operational efficiency and further develop the logistics services ecosystem provided.” It will feature warehouses, yards for the storage and maintenance of containers, and re-export areas.

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