PIF finalizes acquisition of Tawal, STC transfers ownership to new entity
Tawal is valued at SAR 22 bn
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Tawal is valued at SAR 22 bn
Saudi Arabia and the UAE topped the M&A league table
The transaction is expected to close by the end of next month.
The offer will be made through a newly-set up private equity fund managed by FAAD Capital Partners
SEP is backed by the EFG Hermes USD 300 mn Saudi Education Fund
The transaction was valued at SAR 3.4 bn (USD 907 mn)
The SAR 250 mn transaction has been nearly two years in the making
PIF will retain the facilities purpose as a destination for senior management
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