FAAD Capital Partners to acquire 40% of Jubail Chemical Industries

M&A WATCH-

FAAD Partners moves closer to acquiring stake in Nama Chemicals’ subsidiary: Nama Chemicals ’ general assembly signed off on FAAD Capital Partners ’ non-binding offer to acquire a 40% stake in its wholly-owned subsidiary Jubail Chemical Industries (Jana) for SAR 200 mn, authorizing the board of directors to finalize the transaction, negotiate terms, and complete all necessary procedures, according to a disclosure to Tadawul.

REFRESHER- Last month, Nama Chemicals accepted the non-binding offer from FAAD Capital Partners and Haddaj Investment. The transaction will be executed through a new private equity fund managed by FAAD, with Jana issuing new shares to expand its equity base, reducing Nama’s stake to 60%.

STARTUP WATCH-

Homegrown fintech startup Arabian Pay raised an undisclosed amount in a pre-seed funding round from Al Bassami Holding Group, according to a press release. The funding will go to developing the platform and expanding partnerships, enabling SMEs to split Buy Now Pay Later payments for purchases from suppliers and merchants into three installments without interest.

BANKING-

Riyadh-based BNPL solutions provider Madfu received shariah certification from the Shariyah Review Bureau (SRB), confirming the compliance of its services with Islamic finance principles, according to a press release. The company, supervised by the Saudi Central Bank, offers fees and interest-free payment plans of up to six installments.

REAL ESTATE-

The Real Estate Development Fund deposited a little over SAR 1 bn in the accounts of Sakani Program beneficiaries in March 2025, state news agency SPA reports.

REFRESHER- The fund deposited a total of SAR 11.9 bn in the accounts of Sakani beneficiaries last year. The program is a part of a government-run housing initiative that facilitates homeownership for citizens via several financing options, including rent-to-own and mortgage loans.

FINANCIAL SERVICES-

Credit Care Company can now offer online brokerage services across the Kingdom, making it the fifth licensed company of its kind to conduct this type of activity, the Saudi Central Bank said in a statement.