M&A-

Wamid wraps up takeover of DirectFN: Saudi Tadawul Group subsidiary Tadawul AdvancedSolutions (Wamid) consolidated its ownership of Riyadh-based trading platform Direct Financial Network (DirectFN) after acquiring an additional 49% stake in the company for SAR 220.5 mn, according to a filing to Tadawul. Wamid now owns 100% of Direct FN.

About DirectFN: DirectFN operates from five offices in Saudi Arabia, the UAE, Kuwait, Sri Lanka, and Pakistan. It provides trading platforms, market data solutions, analytics, custom financial tools, and other fintech and capital market services.

ENERGY-

Baker Hughes secures order for Aramco’s Jafurah gas field expansion: Baker Hughes closed an order from Spain’s Tecnicas Reunidas for six gas compression trains and six propane compressors for the third expansion phase at Aramco’s Jafurah gas field, according to a press release. The order — booked in 4Q 2024 — will see Baker Hughes leverage recently expanded facilities at its Damman Center.

HEALTHCARE-

Al Moammar Information Systems (MIS) was awarded a SAR 126.1 mn technical support contract for devices and medical equipment at the third Riyadh Health Cluster, according to a disclosure to Tadawul. The agreement — which is set to be signed on 13 April — will see MIS provide tech support across 14 locations in the cluster spanning 142 health centers.

ALSO- MIS renewed and amended conditions for a SAR 1.6 bn Shariah-compliant loan with Banque Saudi Fransi to finance invoice payables, projects, and the issuance of letters of credit and guarantees, it said in a disclosure to Tadawul. The facility is backed by promissory notes and will be valid until Thursday, 31 July 2025.

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