{"id":83433,"date":"2024-02-14T00:00:00","date_gmt":"2024-02-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/14\/northern-region-cement-sells-entire-stake-in-cement-experts\/"},"modified":"2024-02-14T00:00:00","modified_gmt":"2024-02-14T00:00:00","slug":"northern-region-cement-sells-entire-stake-in-cement-experts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/14\/northern-region-cement-sells-entire-stake-in-cement-experts\/","title":{"rendered":"Northern Region Cement sells entire stake in Cement Experts"},"content":{"rendered":"

Northern Region Cement sells entire stake in <\/strong>Jordan\u2019s Cement Experts:<\/strong> Tadawul-listed Northern Region Cement Company signed an agreement to offload its entire 50% stake in Jordan\u2019s Cement Experts Co. for Development and Investment to UAE-based AMP Global Trading in a transaction valued at USD 55 mn, it said in a disclosure to Tadawul<\/a> yesterday. The transaction also sees the UAE-based company grabbing a 51% stake owned by Cement Experts in a joint investment in Iraq\u2019s cement plant Al Kubaisa.<\/p>\n

Where the funds are going:<\/strong> Northern Region Cement said the sale comes as it seeks the entry into other \u201cstrategic partnerships\u201d as part of its plan to expand investments in \u201cpromising markets''. It also aims to repay a part of its debt amid the current high financing cost rates.<\/p>\n

ICYMI-<\/strong> The Northern Region Cement agreed in December<\/a> to sell 49% of its investments in Iraq to Iraqi company Al Diyar Al Iraqia in a USD 44 mn transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sale comes as Northern Region Cement seeks the entry into other \u201cstrategic partnerships\u201d<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[10,14,1058],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83433","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-northern-region-cement","wpautop","entry"],"acf":{"mongo_id":"060b0618-b398-4d71-92d6-a880eab96dac","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Northern Region Cement offloads stake in Cement Experts to UAE-based AMP Global Trading","related_issue":[83419],"teaser":"The sale comes as Northern Region Cement seeks the entry into other \u201cstrategic partnerships\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.09b508f5-0c0b-4087-9848-44f4bd93f7a7.mp3"},"yoast_head":"\nNorthern Region Cement sells entire stake in Cement Experts - 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