{"id":83392,"date":"2024-02-13T00:00:00","date_gmt":"2024-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/13\/a-unit-of-bawan-acquires-maali-holdings-entire-stake-in-two-electricity-companies\/"},"modified":"2024-02-13T00:00:00","modified_gmt":"2024-02-13T00:00:00","slug":"a-unit-of-bawan-acquires-maali-holdings-entire-stake-in-two-electricity-companies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/13\/a-unit-of-bawan-acquires-maali-holdings-entire-stake-in-two-electricity-companies\/","title":{"rendered":"A unit of Bawan acquires Maali Holding\u2019s entire stake in two electricity companies"},"content":{"rendered":"

Bawan Engineering Industries is buying out minority shareholders: <\/strong>The industrial outfit has signed an agreement that would see it increase its total ownership in United Transformers Electric<\/a> and United Technology of Electric Substations & Switchgears to 90% in each, according to a disclosure<\/a> on Tadawul. The shares purchase agreement is pending the final approval of parent company Bawan Company<\/a>.<\/p>\n

The details:<\/strong> Bawan has acquired the entire stake of Maali Holding in both companies for a total of SAR 20 mn. Prior to the transaction, Maali held a 4.5% stake in each of the sold companies.<\/p>\n

KPIs from the subsidiaries: <\/strong>Their combined net profit rose 85% y-o-y to SAR 48.5 in 9M 2023, while their revenues declined 12.3% y-o-y to SAR 533.8 mn.<\/p>\n

A peek into Bawan\u2019s results- <\/strong>The industrial group saw its net profit fall 25% y-o-y to SAR 99.8 mn in 9M 2023 due to a decrease in sales for its metal, plastic and wood segments, according to a disclosure to Tadawul<\/a>. This was also driven by an increase in borrowing costs and discontinued operations in its concrete business. Revenues remained basically unchanged, falling 0.5% y-o-y to SAR 2.5 bn over the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bawan Engineering Industries is buying out minority shareholders: The industrial outfit has signed an agreement that would see it increase its total ownership in United Transformers Electric and United Technology of Electric Substations & Switchgears to 90% in each, according to a disclosure on Tadawul. The shares purchase agreement is pending the final approval of […]<\/p>\n","protected":false},"author":1,"featured_media":83393,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[1036,10,14,1037],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-bawan-engineering-industries","tag-enterpriseam-ksa","tag-ma-watch","tag-maali-holding","wpautop","entry"],"acf":{"mongo_id":"5f482c28-103d-432c-833a-11d38b766ac5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/998.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A unit of Bawan Company acquires Maali Holding\u2019s entire stake in two electricity companies","related_issue":[83382],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.e69665cd-a43d-42ca-98da-0c298ab9ef93.mp3"},"yoast_head":"\nA unit of Bawan acquires Maali Holding\u2019s entire stake in two electricity companies - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/02\/13\/a-unit-of-bawan-acquires-maali-holdings-entire-stake-in-two-electricity-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A unit of Bawan acquires Maali Holding\u2019s entire stake in two electricity companies\" \/>\n<meta property=\"og:description\" content=\"Bawan Engineering Industries is buying out minority shareholders: The industrial outfit has signed an agreement that would see it increase its total ownership in United Transformers Electric and United Technology of Electric Substations & Switchgears to 90% in each, according to a disclosure on Tadawul. 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