M&A WATCH-

#1- Abu Dhabi National Hotels (ADNH) Catering buffed up its stake in Compass Arabia to 50%, after finalizing the acquisition of an additional 20% share from UK-based Compass Group, according to an ADX disclosure (pdf). The transaction — which will see ADNH gain control of the JV alongside Al Rushaid Group, which holds the other half — is expected to reel in an additional AED 100 mn in annual net income and will set the foundations for further expansion in the Kingdom. The firm is eyeing SAR 500 mn growth in the Kingdom over the next five years.

#2- Liva Ins. and Malath Cooperative Ins. will continue mulling over their potential merger until February 2026 as they agreed to extend their original MoU for another six months under the same terms, Liva said in a disclosure to Tadawul on Thursday. The companies signed a non-binding MoU last August to conduct due diligence for the merger, after which they lined up a non-objection decision from the General Authority for Competition in November.

#3- Al Reef Sugar Refinery (Resreco) and Ethraa Holding agreed to extend their MoU for the planned sale of Al Reef’s shares by 70 days, moving the deadline to 30 October, Jazan Development and Investment Company (Jazdaco) said in a disclosure to Tadawul on Thursday. Ethraa inked a binding MoU in June to acquire a 100% stake in Resreco, in which Jazadco and Artex Industrial Investment own a 15% equity stake each.

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STARTUP WATCH-

Investment fund deployment platform Blomal Capital secured an undisclosed amount in a pre-seed funding series led by Falak Angels, a platform of Falak Investment Hub, according to a press release. Falak’s funding is part of its plan to support fintech startups, as well as introducing a variety of platforms to investors.

About Blomal Capital: Established in 2021 in Jeddah by Hazefa Alalayan (LinkedIn), Bilal Abduljawad (LinkedIn), Munthir Alrehaili (LinkedIn), and Abdulaziz Baraqabah (LinkedIn), the licensed platform allows individuals to use a single account to invest in a selection of actively managed private funds starting with SAR 1k investment. The platform also aims to help fund managers expand via support in fundraising, marketing, and operations.

REAL ESTATE-

Two new schools in Tilal Al Riyadh finalized: Saudi Real Estate Company (Al Akaria), Riyadh Development Company (Ardco), and Riyadh Holding built two new school complexes in Al Malqa district’s Tilal Al Riyadh at a total of SAR 275 mn, Al Akaria and Ardco said in disclosures to Tadawul. The complexes are expected to generate SAR 22 mn in annual rent under a 25-year lease agreement with Riyadh Schools Group, a subsidiary of Mohammed bin Salman Foundation, starting this August.

More details: The boys’ complex was built on a 10.3k sqm plot with a built-up area of 14.5k sqm, while the girls’ complex covers 10.9k sqm with 20.5k sqm of built-up space. Together, the developments span a little over 21k sqm of land and about 35k sqm of construction.

We knew this was coming: It was first announced in April 2024 that Tilal Al Riyadh is getting a new educational complex, to be developed through a joint venture in which Ardco holds 50%, Al Akaria 25%, and Riyadh Holding 25%.

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