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M&A Galore
Kingdom Holding and Fakeeh’s acquisitions get the green light from Gac: The General Authority for Competition (Gac) approved 21 economic concentration decisions in June, according to a LinkedIn announcement. These approvals include Kingdom Holdings’ SAR 840 mn acquisition of a 70% stake in Al Hilal from PIF, Fakeeh Care’s SAR 1.6 bn buyout of Al Fagih, and Jamjoom Pharma’s manufacturing facility purchase from Pfizer.
REMEMBER- Al Hilal’s divestment is part of PIF’s strategy to sell football clubs after turning them into financially sustainable entities that can generate returns and attract foreign investments. Meanwhile, Fakeeh’s acquisition adds a 350-bed hospital in central-east Riyadh to its portfolio, pushing total capacity to 535 beds across a two-site cluster.
ALSO- Nomu-listed Rawasi Albina Investment Company signed a non-binding MoU to acquire 50% of Al Amlaq Al Hadidiyah Trading Establishment, a Riyadh-based wholesaler of metal and steel pipes, sheets, sections, and timber, according to a Tadawul disclosure. If completed, the establishment will be converted into a jointly-owned company with each party holding an equal stake.
Why this matters: Rawasi Albina uses steel products and construction materials in its own projects, so owning half of the company that supplies them is a vertical integration bid to enhance project execution, widen the business base, and eventually lift income margins.
Jeddah is getting a cricket stadium
The Saudi Arabian Cricket Federation inked a strategic MoU with the Pakistan Cricket Board to develop a cricket stadium in Jeddah, SPA reports. The partnership also seeks to build a sustainable Saudi cricket ecosystem through talent development, technical programs, coaching and officiating initiatives, competitive tournaments, and knowledge exchange between the two cricket boards, Zawya reports.
REMEMBER- Saudi Arabia is set to host major cricket for the first time through a strategic partnership between the local federation and the UAE-based DP World International League T20 (ILT20). The agreement licenses ILT20 as an official league in the Kingdom, with future seasons expected to stage matches here at home.
